Danamount Corp. uses the FIFO method in its process costing system. The cost per equivalent unit of conversion cost in the first processing department was $4.00 this month. There were 1,000 units in beginning work in process inventory in the department at the beginning of the month. These 1,000 units were 30% complete with respect to conversion costs and had already incurred $1,000 in conversion cost. A total of 10,000 units were transferred to the second processing department during the month. There were 2,000 units in the ending work in process inventory at the end of the month and they were 60% complete with respect to conversion cost. How much conversion cost would have been assigned to the units that were transferred to the second processing department during the month? $40,000 $39,800 $38,800 $44,600