If you can try and clearly state what you think the answers are, as clear as possible, and try and explain it. It would be greatly appreciated! I am not looking for JUST an answer, I am to understand them!

B 90 Accotod or t E started End of mont ed T07 40. Question 2 (8 marks) Norm Monthly information is as follows: Work in process: Conversion: degree of completion in WIP Costs of Material in WIP Costs of Conversion in WIP Beginning of month 1,000 units 60% 4,000 units 40% ? $ 8,100 $11,300 ? During the month: $27,975 $27,235 Costs incurred for Materials Costs incurred for Conversion 2,860 units were At month end: Direct Materials: Conversion costs: Spoiled Units: 90% are added at the beginning of the process, the rest at 90% conversion loO Detected at 80% conversion. Normal Spoilage 2% of units started completed, 140 units were spoiled Added evenly during the process. Required: A. Briefly explain the main difference between FIFO and Modified FIFO. B. Using Modified FIFO, calculate: i. Ending WIP Cost of Goods Manufactured Spoilage expense taoo ii. iii. P1000 N By wip Nounel spuluop Abmer en wip ted E ndwie 4o00 Complctul 2o umits + A t + so B 90 Accotod or t E started End of mont ed T07 40. Question 2 (8 marks) Norm Monthly information is as follows: Work in process: Conversion: degree of completion in WIP Costs of Material in WIP Costs of Conversion in WIP Beginning of month 1,000 units 60% 4,000 units 40% ? $ 8,100 $11,300 ? During the month: $27,975 $27,235 Costs incurred for Materials Costs incurred for Conversion 2,860 units were At month end: Direct Materials: Conversion costs: Spoiled Units: 90% are added at the beginning of the process, the rest at 90% conversion loO Detected at 80% conversion. Normal Spoilage 2% of units started completed, 140 units were spoiled Added evenly during the process. Required: A. Briefly explain the main difference between FIFO and Modified FIFO. B. Using Modified FIFO, calculate: i. Ending WIP Cost of Goods Manufactured Spoilage expense taoo ii. iii. P1000 N By wip Nounel spuluop Abmer en wip ted E ndwie 4o00 Complctul 2o umits + A t + so