Holly Company has the following information for December 1 to December 31, All direct materials are 100% complete Work-in-Process Beginning balance S 30,720 Completed 2,280 units and transferred to $574,560 finished goods inventory December 320 units, 20% complete for conversion Direct materials Direct labor 189,240 177,840 Factory overhead Property taxes Depreciation 6,500 41,900 26,100 8,000 $ 41,580 Utilities Indirect labor Ending balance December 31 420 units, 40% complete Required Calculate equivalent units using the weighted-average and FIFO methods Equivalent Units Weighted-Average 2,700 2,448 FIFO Materials Conversion