P QUESTION 2 The Cutting Department of Lawrence & Laud Company reports the following information for the month of July 2000 Materials are entered at the beginning of the cutting proces Other costs are incurred ovenly during the process Production Poults were: (1) 24.000 units were started at the beginning of July . Cont accumulated during July include: So conto (o no beginning WIP) At July 1, 2020. 4,000 units were loft 80% completo as to conversion and 100% complote on to material. (2) Material, 300,000 (3) Labor, $27,200 (4) Manufacturing Overhead, 532,200. INSTRUCTIONS: (Hint: Be sure to have a blank Product Cost Report to help you) Answer the questions below. Strictly follow these specifications: Round $-amounts to the nearest $.01 (penny). Include the rounded amount in the computations. . Include a S on all dollar amounts. Include the decimal point and the cents on all dollar amounts. Include a comma on all amounts where applicable. . For each blank, do not provide a longer answer than asked. ALL are one-word or one s-amount answers. . Required: Click Save and Submit to save and submit. Click Save All Answers to serve all answers. MacBook Air INSTRUCTIONS: (Hinterthures Present Answer the questions Serey Mullew the species Round 5 amounts to the wel 5.01 ) cake de Include a son all delete Include the decimal point and the call dull . Include a coma on all amounts where we . For each blank, do not provide a longer wewe thanked. ALL. We words Roquired: 1. The TOTAL, number of write in procuring the month 2. The event units of production for material que uri 3. The equivalent units of production for Conversion cost qui 4. The answer to 13 in found by adding together: 1 unts and 2 5. The unit cost formaterial equal divided by 8. The unit cost for conversion cost equals divided by 7. The total cost to be accounted for equals 8. How many units were transferred out? 9. What is the total cost of units transformed out