Holly Company has the following information for December 1 to December 31. All direct materials are 100% complete.

Work-in-Process
Beginning balance December 360 units, 20% complete for conversion	$ 45,000	Completed 960 units and transferred to finished goods inventory	$ 214,995
Direct materials	97,200
Direct labor	61,200
Factory overhead
Property taxes	9,200
Depreciation	40,000
Utilities	21,200
Indirect labor	7,200
Ending balance December 31, 460 units, 40% complete	66,005

Required:

1. Calculate equivalent units using the weighted-average and FIFO methods.