Exercise 8-24 (Static) Compute Equivalent Units: Weighted-Average Method (LO 8-1, 3) 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, 65,000 units. - Transferred out, 62,000 units. - Ending inventory, 36,000 units (materials are 100 percent complete; conversion costs are 65 percent complete). Required: a. Compute the equivalent units for materials using the weighted-average method. b. Compute the equivalent units for conversion costs using the weighted-average method