San Jose Inc. uses a FIFO process costing system. All direct materials are added at the start of manufacturing, and conversion cost is incurred evenly throughout production. The company started 70,000 units during May and had the following WIP inventory at the beginning and end of the month. May 1 May 31 30,000 units, 50% complete with respect to conversion costs 24,000 units, 25% complete with respect to conversion costs Total equivalent units for May are: a. Materials: 100,000; Conversion Costs: 82,000 b. Materials: 82,000; Conversion Costs: 100,000 C. Materials: 70,000; Conversion Costs: 67,000 d. Materials: 67,000; Conversion Costs: 70,000