Carolwood Company manufactures widgets and uses process costing. The status of the beginning and ending inventory is:

Beginning inventory 30% of the manufacturing process is complete Ending inventory 55% of the manufacturing process is complete

Direct materials are added to the manufacturing process in stages. None are added when production begins. Approximately half of the materials are added when the product is 25% complete. The other half are added when the product is 50% complete.

The percentages complete of beginning inventory and ending inventory with respect to direct materials (DM) and conversion costs (CC), respectively, are

a. beginning inventory: DM50%; CC70% ending inventory: DM100%; CC45%

b. beginning inventory: DM30%; CC30% ending inventory: DM55%; CC55%

c. beginning inventory: DM50%; CC30% ending inventory: DM100%; CC55%

d. beginning inventory: DM50%; CC30% ending inventory: DM55%; CC55%