The Miracle Company had 28,000 units in process on December 31,2016 which was 80% complete as to materials but only 40% completeas to conversion costs. The company’s records show 48,000 unitswere transferred to the Finished Goods Inventory during January2017. On January 31, 2017, 23,000 units were on hand which were 20%complete as to conversion costs and 70% complete as to materials.What are the equivalent units of production for the conversioncosts in January, assuming Miracle uses first-in, first-out (FIFO)? 46,400. 46,800. 41,400. 51,000.
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