A manufacturing company operates two processes. Output from Process 1 is transferred as input to Process 2. Output from Process 2 is the finished product. Data for the two processes in January are as follows: Opening work in process Nil Closing work in process 4,000 Units introduced into the process 14,000 Units transferred to next process (Process-2) 10,000 Material cost added during the period Rs.70,000 Conversion cost added during the period Rs.48,000 Materials are input into Process 1 at the start of the process and conversion costs are incurred at a constant rate throughout processing. The closing work-in-progress in Process 1 at the end of January is estimated to be 50% complete for the conversion work. Process-2 Opening work in process Nil Closing work in process 1,000 Units introduced into the process Nil Units transferred to Finished Goods Inventory 9,000 Cost of production from Process-1 90,000 Material cost added during the period Rs.36,000 Conversion cost added during the period Rs.57,000 The materials from Process 1 are introduced at the start of processing in Process 2, but the added materials are introduced at the end of the process. Conversion costs are incurred at a constant rate throughout processing. The closing work-in-progress in Process 2 at the end of January is estimated to be 50% complete. Required (a) Calculate the cost of completed output from Process 1 and Process 2 (b) Calculate the cost of the closing work-in-process in each process at the end of January.