5 (Marks 4) The general ledger of XYZ Company has the following costs in the Work in Process account: Work in Process Inventory-Finishing 7/1 Balance 8,000 7/31 Transferred out ? 7/31 Direct materials 1,800 7/31 Direct labour 2,600 7/31 Overhead 2,680 7/31 Balance ? Production records show that there were 3,000 units in beginning inventory, 50% complete; 4,000 units started, and 4,500 units transferred out. The beginning Work in Process inventory had conversion costs of $3,300. The units in ending inventory were 60% complete. Direct materials are added at the beginning of the process. The company employs the weighted- average method of process costing. Instructions Answer the following questions: a) How many units are in process at July 31? b) What is the unit conversion cost for July? c) What is the conversion cost in the July 31 inventory