Pitt Enterprises manufactures jeans. All materials are introduced at the beginning of the manufacturing process in the Cutting Department. Conve costs are incurred uniformly throughout the manufacturing process. As the cutting of material is completed, the pieces are immediately transferred to the Sewing Department. Information for the Cutting Department for the month of May follows Work in Process, May 1 26,000 units 100% complete for direct materials, 70% complete with respect to conversion costs; includes $70.800 of direct material cost: $34,170 of conversion costs). Units started in May 140,000 Units completed in May 124,000 Work in Process, May 31 (42,000 units, 100% complete for direct materials: 60% complete for conversion costs). Costs ineprred in May Direct materials Conversion costs $342,300 $353,250 If Pitt Enterprises uses the FIFO method of process costing, compute the equivalent units for direct materials and conversion respectively for May Multiple Choice 140,000 materials: 131,000 conversion. 166,000 materials; 149,200 conversion