Materials Conversion Totals Costs - less: Scrap value - (2) Total - Q. 10 (12 marks A chemical is manufactured in two processes, R and S. Data for 2019 is as follows: (1). Material transferred from process R to S: 1,000 litres @ 5 per litre Conversion costs incurred: 11,100 (3). Output transferred to finished goods: 800 litres (4). Normal loss is 5% of input. (5). Normal losses have a scrap value of 5 per litre. (6). Closing work in progress: 100 litres (7). Closing work in progress is fully completed for material, but it is only 75% converted. Questions: (a). What is the value of the completed (or finished) output ? (6 marks) (b). What is the value of the closing work in progress (WIP) ? (6 marks) Units: Completed Abnormal loss Closing WIP Total equivalent units Cost - per unit Costs - : Completed - WIP - Abnormal loss - Total