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, 66,500 units. Transferred out, 63,500 units. Ending inventory, 31,750 units (materials are 100 percent complete; conversion costs are 60 percent complete). Required: a. Compute the equivalent units for materials using FIFO b. Compute the equivalent units for conversion costs using FIFO a. Materials b. Conversion costs Equivalent Units