Carver Corporation uses the first-in, first-out method in its process costing system. The Assembly Department started the month with 2,400 units in its beginning work in process inventory that were 60% complete with respect to conversion costs. An additional 70,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 9,400 units in the ending work in process inventory of the Assembly Department that were 50% complete with respect to conversion costs. What were the equivalent units of production for conversion costs in the Assembly Department for the month?

A) 63,000
B) 66,260
C) 67,700
D) 77,000

The equivalent units of production for conversion costs are calculated by adding the units completed and transferred out during the month to the equivalent units in the ending work in process inventory. The calculation is as follows:- Units started and completed: 70,000 units started - 9,400 units in ending WIP = 60,600 units completed.- Equivalent units for ending WIP: 9,400 units * 50% = 4,700 equivalent units.- Equivalent units for beginning WIP: 2,400 units * 40% (since they were 60% complete, only 40% of the work remains) = 960 equivalent units.Total equivalent units for conversion costs = Units completed + Equivalent units for ending WIP + Equivalent units for beginning WIP = 60,600 + 4,700 + 960 = 66,260.