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, 67,000 units.

Transferred out, 64,000 units.

• Ending inventory, 32,000 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.

	Equivalent Units
a. Materials
b. Conversion costs