A company produces a single product that passes through two processes. The details for process 1 are as follows:

Materials input 20,000 kg at P2-50 per kg

Direct labour P15,000

Production overheads 150% of direct labour

Normal losses are 15% of input in process 1 and without further processing any losses can be sold as scrap for P1 per kg.

The output for the period was 18,500 kg from process 1. There was no work-in-progress at the beginning or end of the period.

What value (to the nearest P) will be credited to the process 1 account in respect of the normal loss?