The Cutting Department of Lawrence & Laud Company reports the following information for the month of July 2020: Materials are entered at the beginning of the cutting process . Other conts are incurred ovenly during the procoon Production results were: (1) 24,000 units were started at the beginning of July, (2) At July 31, 2020, 4,000 units were loft 60% completo as to conversion and 100% completo as to material, Cost accumulated during July include: (1) SO conto (.o., no beginning WIP) (2) Material, $90,000 (3) Labor $27,200 (4) Manufacturing Overhead, $32,200, INSTRUCTIONS: (Hint: Be sure to have a blank Product Cost Report to help you) Answer the questions below. Strictly follow these specifications: Round S-amounts to the nearest 8.01 (penny). Include the rounded amount in the computations. Include a Son 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: 1. The TOTAL number of units in process during the month is units 2. The equivalent units of production for material equals units 3. The equivalent units of production for Conversion cost equals units. 4. The answer to #3 is found by adding together: 1. units and 2. units multiplied by 5 The inte INSTRUCTIONS: (Hint: Be sure to have a blank Product Cost Report to help you) Answer the questions below. Strictly follow these specifications: . Round s-amounts to the nearest 5.01 (penny). Include the rounded amount in the computations Include a Son 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. units multiplied by porcent. Required: 1. The TOTAL number of units in process during the month is units. 2. The equivalent units of production for material equals units 3. The equivalent units of production for Conversion cont equals units. 4. The answer to $3 is found by adding together : 1, units and 2 6. The unit cout for material equal divided by 6. The unit cost for conversion cont equals divided by 7. The total cost to be accounted for equila 8. How many units were transferred out? 2. What is the total cost of units transferred out