Perth operates a process costing system. The process is expected to lose 25% of input and this can be sold for $8 per kg. Inputs for the month were: Direct materials 3,500 kg at a total cost of $52,500 Direct labour $9,625 for the period There is no opening or closing work in progress in the period. Actual output was 2,800 kg. What is the valuation of the output?