24. A company's beginning work-in-process inventory consisted of 37,500 units that were 60% complete with respect to conversion. Another 201,250 units started into production during the current period. A total of 187,500 units were finished and transferred to finished goods. The ending inventory consisted of 51,250 units that were 80% complete at the end of the period. The equivalent units of production for conversion were: O 175,250. 182.750. 187.500. O 206,000. 0 225,375 23. In a process cost system, equivalent units of production are calculated for: Material and conversion. Labor only. O Material only. Factory overhead only. Overhead and conversion