May 1 $22,150 31 Balance, 1,000 units. % completed Direct materials, 5,000 units Direct labor Factory overhead 31 31 75,000 32,500 16,250 If 500 units were one-fourth completed at May 31, 5,500 units were completed during May, and the fir first-out method is used, what was the number of equivalent units of production with respect to conver costs for May? 0 4,500 0 4,875 5,500 0 6,000 Question 4 Based on the data presented in Question 3, what is the conversion cost per equivalent unit? o $10 $15 $25 O $32 Gonversion costs are comprised of direct labor and direct materials. . direct labor and selling expenses. O direct labor and factory overhead. O factory overhead and direct materials