Question - O'malley Corp. uses the FIFO method process costing system. Material is added at the beginning of the production process and overhead is applied on the basis of direct labor. O'Malley's records indicate that 70,000 units were in process at the beginning of May 2013; these units were 30% complete as to conversion. In May the company started 445,300 and completed 427,500 units. May's ending inventory was 35% complete as to conversion. What are the equivalent units of production for direct material and for conversion?