** Use the following information for the next seven (7) questions ** Urban Company manufactures a product through a continuous single-step process. All materials were added at the beginning of processing. Production and cost data for the company for 20x1 are as follows: Production data: In process, beginning of month (20% converted): Started during 20x1: Completed and transferred to finished goods: In process, end of month (60% converted): 1,000 units 5,000 units 4,500 units ? units Manufacturing costs: Work in process, beginning materials costs Work in process, beginning conversions costs: New materials costs: New direct labor cost: New factory overhead cost: $8,000 $11,400 $55,000 $102,500 $53,500 Under the Weighted Average assumption, what is the total amount of costs used to calculate cost per equivalent unit with respect to conversion costs? Select one: O a. S156,000 b. $167,000. c. $113,900. d. $102,500. ** Same information as above ** Under the FIFO assumption, what is the total amount of costs used to calculate cost per equivalent unit with respect to materials? Select one: O a. Some other amount. O b.$55,000 O C. $63,000 d. $8,000