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 Month End of Month

Work in process:22,000 units8,000 units

Conversion (% of completion in WIP): 40%70%

Costs of Materials in WIP:$80,000 ?

Costs of Conversion in WIP:$114,000?

During the month:

Units started during the month: 70,000 units

Costs incurred for Materials: $300,000

Costs incurred for Conversion: $270,000

Total Spoiled Units detected:4,400 units

Other Income Statement Information:

Sales:$920,000

Admin expenses$200,000

95% of direct materials is added at the beginning of the process, and the remaining 5% of direct materials (for packaging) is added immediately after inspection.

Inspection occurs when units are 75% converted, and inspection determines if the units are "acceptable" or "spoiled".Normal Spoilage is based on 6% of units started.

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

requirement

Part A: Income Statement for the month and show the value of ending inventory, assuming that inventory is based on modified FIFO,

Part B: Income Statement for the month and show the value of ending inventory, assuming that inventory is based on Weighted Average.

(you can omit the company name and period from the income statement)