Holly Company has the following information for December 1 to December 31 All direct materials are 100% complete Work in Process Completed 840 units and transferred to finished goods $30,000 inventory 64,800 40.B $137,760 Beginning balance December 248 units, 20% complete for conversion Direct materials Direct labor Factory overhead Property taxes Depreciation Utilities Indirect labor Ending balance December 31, 340 units, 40% complete 5,800 34.00 18,800 4,500 35,020 Required: 1 Calculate equivalent units using the weighted average and FIFO methods. Equivalent Units Weighted Average FIFO Direct materials Conversion