The Miracle Company had 36,000 units in process on December 31, 2020 which was 80% complete as to materials but only 40% complete as to conversion costs. The company's records show 56,000 units were transferred to the Finished Goods Inventory during January 2021. On January 31, 2021, 31,000 units were on hand which were 20% complete as to conversion costs and 70% complete as to materials. What are the equivalent units of production (EUPs) for the conversion costs in January, assuming Miracle uses first-in, first-out (FIFO)?

Multiple Choice

• 59,600 EUPs

• 52,800 EUPs

• 47,800 EUPs

• 67,000 EUPs