A company uses process costing to value its output.
The following was recorded for the period:
Input materials ....................................2000 units at £4.50 per unit
Conversion costs ...............................£13,340
Normal loss .........................................5% of input valued at £3 per unit
Actual loss ...........................................150 units
There were no opening or closing stocks.
What was the valuation of one unit of output to one decimal place?
(a) £11.8
(b) £11.6
(c) £11.2
(d) £11.0