3) The Smart Company produces the same electrical component that is used in small engines. The company has the following production data for the month of June: Beginning Work in Process inventory - 10,000 units, 70% complete for conversion costs Units transferred out - 80,000 Units in ending Work in Process inventory - 20,000, which are 50% complete for conversion costs Direct materials are all added at the beginning of the process. Total direct material costs are $540,000. Total direct labour costs are $340,000 and total manufacturing overhead costs are $80,000. Calculate the cost of the units transferred out and the work in process for the June month end. What would the beginning work in process for the month of July