Materials Conversion Totals Costs - (1). Material transferred from process to S: 1.000 litres @ 5 per litre (2). Conversion costs incurred: 11,100 (3). Output transferred to finished goods: 800 litres (4). Normal loss is 5% of input. (5). Normal losses have a scrap value of 5 per litrc. (6). Closing work in progress: 100 litres (7). Closing work in progress is fully completed for material, but it is only 75% converted. Questions: (a). What is the value of the completed for finished) output ? 16 marks) (). What is the lower of the clowing work in progress (WIP) ? (6 marks) less: Scrap value - Total - Units: Completed Abnormal loss Closing WIP Total equivalent units Cost - per unit Costs - : Completed - WIP - Abnormal loss - Total