Penny, Inc. employs a process costing system. Direct materials are added at the beginning of the process. Here is information about July's activities:

On July 1:
Beginning inventories	850 units, 60% complete
Direct materials cost	$5,000
Conversion costs	$4,000
During July:
Number of units started	15,000
Direct materials added	$155,000
Conversion costs added	$83,520
On July 31:
Ending inventories	1,600 units, 40% complete

Using the FIFO method, the number of equivalent units of conversion costs was

a.

14,380

b.

14,550

c.

14,400

d.

15,850