Monthly information is as follows: Work in process: Conversion: degree of completion in WIP Costs of Material in WIP Costs of Conversion in WIP During the month: At month end: Direct Materials: Conversion costs: Spoiled Units: Beginning of month 2,000 units ii. iii. 60% $ 8,100 $11,300 Ending WIP Cost of Goods Manufactured Spoilage expense End of month 4,000 units 40% ? ? Costs incurred for Materials Costs incurred for Conversion 2,860 units were completed units, 150 units were spoiled 90% are added at the beginning of the process, 10% at the very end of the process Added evenly during the process. Detected at 80% completion. Normal Spoilage = 2% of units started during the month $27,975 $27,235 Required: A. Briefly explain the main difference between FIFO and Modified FIFO. B. Using Modified FIFO, calculate: