Magic Company adds materials at the beginning of the process in Department A. The following information on physical units for Department A for the month of August is available. Work in process, August 1 (601 complete with respect to conversion) Started in August Completed Work in process, August 31 (304 complete with respect to conversion) 72,000 480,000 480,000 72,000 Required: a. Compute the equivalent units for materials costs and for conversion costs using the weighted average method. b. Compute the equivalent units for materials costs and for conversion costs using the FIFO method. Equivalent units Conversion Materials Costs 552.000 501,600 Using the weighted-average method Using the FIFO method b. Required information [The following information applies to the questions displayed below.) Pacific Ink had beginning work-in-process inventory of $744,960 on October 1. of this amount, $304,920 was the cost of direct materials and $440,040 was the cost of conversion. The 48,000 units in the beginning inventory were 30 percent complete with respect to both direct materials and conversion costs. During October, 102,000 units were transferred out and 30,000 remained in ending inventory. The units in ending inventory were 80 percent complete with respect to direct materials and 40 percent complete with respect to conversion costs. Costs incurred during the period amounted to $2,343,600 for direct materials and $3,027,840 for conversion. Required: a. Compute the equivalent units for the materials and conversion cost calculations. b. Compute the cost per equivalent unit for direct materials and for conversion costs using the FIFO method. Complete this question by entering your answers in the tabs below. Required A Required B Compute the equivalent units for the materials and conversion cost calculations, 504 480 Equivalent units for materials Equivalent units for conversion costs