Exercise 8-22 (Algo) Compute Equivalent Units (LO 8-1,3,5) 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 (631 complete with respect to conversion) started in August Completed Work in process. Alguet 31 1724 complete with respect to conversion) 16,700 121,400 121.400 16,700 Required: . 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. Equivalent Units Materials Conversion Costs Using the weighted average method Using the FIFO method