A manufacturer uses process costing. Direct materials are added at the start of production whereas conversion costs are incurred uniformly throughout production. For July, the direct materials cost is $4 per equivalent unit while the conversion costs are $10 per equivalent unit. Ending work-in-process (W-I-P) for July consists of 500 physical units that are 40% converted. Determine the valuation for ending W-1-P. Select one: O a. 2,000 O b. 2,800 O c. 4,000 O d. 4,200 O e. 5,000 O f. 7,000