Kronk, Incorporated provides the following information concerning the work in process at its plant:

Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 10 percent complete).

Started this month, 71,000 units.

Transferred out, 68,000 units.

• Ending inventory, 34,000 units (materials are 100 percent complete; conversion costs are 60 percent complete).

Required:

1. Compute the equivalent units for materials using FIFO.
2. Compute the equivalent units for conversion costs using FIFO.

Need help, please and thank you.

\begin{tabular}{l|l|} \hline a. Materials & EquivalentUnits \\ \hline b. Conversion costs & \\ \hline \end{tabular}