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 (58% complete with respect to conversion) Started in August Completed Work in process, August 31 (79% complete with respect to conversion) 16,000 118,500 118,500 16,000 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