Hoyt, Incorporated has a process costing system at its Forest Street Plant. All materials are introduced when conversion costs reach $40$ percent. The following information is available for physical units during August:

Units started in August $163,000$

Units transferred out to Finishing Department in August $178,000$

Work in process, August $1(85\%$ complete as to conversion costs$)41,000$

Work in process, August $31(25\%$ complete as to conversion costs$)26,000$

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.