Riggle Sdn Bhd manufactures headphone cases using a single process. There was no opening work in progress (WIP). As shown, the closing WIP of 500 units was completed: Material 100% Labour 60% Production overhead 30% The budgeted and actual activity levels are 10,000 and 10,220 machine hours, respectively. The fixed overhead is RM0.60 per machine hour. The following are the details of the process for the month of August: Material 6,000 units at RM1.24 per unit Labour RM5,500 Finished goods 4,500 units Normal loss 5% of the input At the end of the production process, losses are recognised and sold for RM0.55 per unit (Remember to round your answer to the nearest two decimal digits).

Required: (a) Prepare the process account for the month of August. (22 marks)

(b) Calculate the value of closing WIP.