Assume a company uses the FIFO method in its process costing. Its Work In Process T-account for the Refining Department for August is: 9 August 1 balance ? 8 00:07:10 Work in Process: Refining Department 62,eee Completed and transferred to Finished Goods 495,000 72,000 181,eee Materials Direct labor Overhead August 31 balance The August 1 work in process Inventory consisted of 6.000 units with $40,000 in materials cost and $22,000 in conversion cost. The August 1 work in process Inventory was 100% complete with respect to materials and 40% complete with respect to conversion. During August 48,000 units were started into production. The August 31 work in process Inventory consisted of 8,000 units that were 100% with respect to materials and 60% complete with respect to conversion What is the equivalent units of production for conversion? Multiple Choice O 44,800 units O 48,400 units 46,400 units 46,300 unit 46,800 units