A manufacturer uses process costing.It has one direct material cost pool and one conversion cost pool.Information for the month is as follows:

Beginning of MonthEnd of Month

Work in process: 4,000 units 3,000 units

Conversion (% of completion in WIP): 40% 60%

Costs of Materials in WIP: $ 81,000 ?

Costs of Conversion in WIP: $ 93,000 ?

During the month:

Units started during the month: 25,100 units

Costs incurred for Materials: $300,000

Costs incurred for Conversion: $270,000

Total Spoiled Units detected:780 units

Other Income Statement Information:

Sales:$920,000

Admin expenses$200,000

Inspection occurs when units are 75% converted, and inspection determines if the units are "acceptable" or "spoiled".Normal Spoilage is based on 3% of units started.

85% of direct materials is added at the beginning of the process, and the remaining 15% of direct materials (for packaging) is added immediately after inspection.

There were no finished goods or raw material inventories at any point of the process.

Required:

Part A: an Income Statement for the month assuming that inventory is based on modified FIFO,

Part B:an Income Statement for the month assuming that inventory is based on Weighted Average.