Park Co. manufactures only one product: its world-famous slimming yoga pants. The yoga pants are manufactured in a single department and are complete and ready for sale when they exit the department. Direct materials are added at the beginning of the production process, and conversion costs are incurred uniformly over the production process. The company uses the weighted-average process costing method to account for its inventory.

Park Co. expects that 1% of units that pass inspection (i.e., good units) will be spoiled. Units are inspected for spoilage when they are 50% complete. During the month of January 2021, production records indicate that there were actually 460 spoiled units, which were sold for $20 per unit.

The following data pertain to the company's operations for month of January 2021:

UNITS			Units	Notes
Units in beginning WIP			3,000	20% complete for conversion
Units entered into production			48,000
Units in ending WIP			3,540	40% complete for conversion
Completed units			47,000

COSTS			Beginning WIP Costs	Current Period Costs	Total Costs
Direct materials costs			$ 54,000	$ 883,200	$ 937,200
Conversion costs			$ 8,520	$ 710,400	$ 718,920
Total costs			$ 62,520	$ 1,593,600	$ 1,656,120

What is the total cost allocated to the Finished Goods Inventory account for the month of January 2021, after making any necessary adjustments for the costs of spoilage?

What is the total cost allocated to the Work in Process Inventory account for the month of January 2021, after making any necessary adjustments for the costs of spoilage?

What is the company's gain or loss due to abnormal spoilage for the month of January 2021? Enter a gain as a positive number or a loss as a negative number.