8-22. Compute Equivalent Units (@LO 8-1, Q3, Q5) Magic Company adds materials at the beginning of the process in Department A. The following information on physical units for Department A for the month of August is available. Work in process, August 1(60% complete with respect to conversion) 72,000 Started in August 480,000 Completed 480,000 Work in process, August 31 (30% complete with respect to conversion) 72,000 Required a. Compute the equivalent units for materials costs and for conversion costs using the weighted-average method. b. Compute the equivalent units for materials costs and for conversion costs using the FIFO method