Intermediate KL Processing operates the FIFO method of accounting for opening work in process in its mixing process. The following data relates to April:

Losses in processes are expected to be 10% of period input. They are complete as to input mat¬ erial costs but are discovered after 60% conversion. Losses have a scrap value of £0.20 per litre.
Opening work in process was 100% complete as to input materials, and 70% complete as to conver¬ sion. Closing work in process is complete as to input materials and 80% complete as to conversion. A The number of material-equivalent units was (i) 26300 litres (ii) 26 600 litres (iii) 27 000 litres (iv) 28 000 litres (v) 29000 litres B The number of conversion-equivalent units was (i) 26400 litres (ii) 26 600 litres (iii) 26 800 litres (iv) 27 000 litres (v) 27 400 litres

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Opening work in process 1000 litres valued at 1 500 Input 30000 litres costing 15000 Conversion costs 10000 Output 24 000 litres Closing work 3 500 litres in process