Springline Company has a process costing system. All materials are introduced at the beginning of the process in Department One. The following information is available for the month of January:

$$UnitsWork in process, July $1(40\%$ complete for conversion$)490$Started$2,450$Completed and transferred to Department $22,350$Work in process, July $31(60\%$ complete for conversion$)590$

What are the equivalent units for the month of July if the company uses the FIFO method?

Multiple Choice

Materials $2,940$ and Conversion $2,450$

Materials $2,940$ and Conversion $2,508$

Materials $2,940$ and Conversion $2,704$

Materials $2,450$ and Conversion $2,508$

Materials $2,450$ and Conversion $2,704$