Loren Chemical reported the following production data for Department 2: Transferred in from Department 1............................55,000 liters Transferred out to Department 3..............................39,500 liters Still in process: 1/3 complete as to labor and overhead....................10,500 liters All materials are already in process. Transferred in from Department 1.............................$1.80 per unit Labor for Department 2.............................................$27,520 Applied overhead for Department 2..........................$15,480 FOR 25 ASSIGNMENT POINTS.....................Prepare a Cost of production report for Department 2 for May of this year