Exercise 8-22 (Algo) Compute Equivalent Units (LO 8-1, 3, 5) 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 (551 complete with respect to conversion) Started in August Completed Work in process, August 31 (761 complete with respect to conversion) 17,000 120,600 120,600 17,000 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 a. Using the weighted average method b. Using the FIFO method