The miracle company had 20,000 units in process on december 31, 2020 which was 80% complete as to materials but only 40% complete as to conversion costs. the company's records show 40,000 units were transferred to the finished goods inventory during january 2021. on january 31, 2021, 15,000 units were on hand which were 30% complete as to conversion costs and 60% complete as to materials. what are the equivalent units of production (eups) for the conversion costs in january, assuming miracle uses first-in, first-out (fifo)

Tri fecta, a partnership, had revenues of $369,000 in its first year of operations. the partnership has not collected on $45,000 of its sales and still owes $39,500 on $155,000 of merchandise it purchased. there was no inventory on hand at the end of the year. the partnership paid $27,000 in salaries. the partners invested $48,000 in the business and $23,000 was borrowed on a five-year note. the partnership paid $2,070 in interest that was the amount owed for the year and paid $9,500 for a two-year insurance policy on the first day of business. compute net income for the first year for tri fecta.