POINT VALUE 5. Data for Orlando Company for the month of July 2016 are as follows: Beginning work in process inventory: Operations for the month of June: Units-800 Units started -14,000 Direct materials -100% complete Direct materials costs$57,400 Conversion costs-70% complete Conversion costs $50,122 Direct materials costs-$2,860 Conversion costs $2,150 Ending work in process inventory: Units -1,500 Direct materials 100% complete Conversion costs 30% complete Assume the company uses a FIFO flow of costs. a. Prepare a process cost report for July. b. Identify the amount that should be transferred out of the Work in Process Inventory account, and state where those dollars should be transferred