ABC company is a manufacturer of processed goods. In August 2020, in one process, there was no opening inventory, but 100 units of input were introduced to the process during the month, at the following cost: $ Direct materials 200 Direct labour 500 Production overhead 200 Of the 100 units introduced, 80 were completely finished during the month and transferred to the next process. Closing inventory of 20 units was only 50% complete with respect to materials and conversion costs. Required (1) Calculate total costs of the output (finished goods), and total costs of Work-in-progress (WIP).

(2) Draw the process account for this case.