A product passes through three processes. The output of each process is treated as the raw material of the next process to which it is transferred and output of the third process is transferred to finished stock.

	Process-I ($)	Process-II ($)	Process-III ($)
Materials issued	40,000	20,000	10,000
Labour	6,000	4,000	1,000
Manufacturing overhead	10,000	10,000	15,000

10,000 units have been issued to the Process-I and after processing, the output of each process is as under:

Process	Output	Normal Loss
Process-I	9,750 units	2%
Process-II	9,400 units	5%
Process-III	8,000 units	10%

No stock of materials or of work-in-process was left at the end. CALCULATE the cost of the finished articles.