I. Assume there was no beginning work in process inventory and the ending werk in prosess inventory is 70% complete with respect to conversion costs. Under the weig ted average method, the mumber of equivalent units of production with respeet to conversion costs would A, the same as the units completed B. less than the units completed. C, the same as the units started during the period D. less than the units started during the period 2. A flexible budget is a budget that: A. is updated with actual costs as they occur during the period B. is updated to reflect the actual level of activity during the period. ?.is C. is prepared using a computer spreadsheet application D. contains only variable production costs