Assume a company uses the weight-average method in its process costing. Its Work in Process T-account for the Refining Department for August is: August 1 balance ? Materials Direct labor Overhead August 31 balance Work in Process: Refining Department 62,000 Completed and transferred to Finished Goods 495,000 72,000 181,000 ? The August 1 work in process inventory consisted of 6,000 units with $40,000 in materials cost and $22,000 in conversion cost. The August 1 work in process inventory was 100% complete with respect to materials and 40% complete with respect to conversion. During August 48,000 units were started into production. The August 31 work in process inventory consisted of 8,000 units that were 100% with respect to materials and 60% complete with respect to conversion. What is the equivalent units of production for materials? Multiple Choice 54,000 units O O 56.000 units 50.000 units O O 52,000 units