Lolita Company has the following information available for June 2020:

Beginning Work in Process Inventory

(25% done as to conversion) 20,000 units

Started 130,000 units

Ending Work in Process Inventory

(75% done as to conversion) 30,000 Units

Beginning Work in Process Inventory Costs:

Material P4,400

Conversion 17,250

Current Period Costs:

Material P 52,000

Conversion 82,500

All material is added at the start of production and all products completed are transferred out.

Required:

1. Cost of production report using FIFO method.
2. Cost of production report using weighted-average method.