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Magic Company adds materials at the beginning of the process in Department A. The following...

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Accounting

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 (56% complete with respect to conversion) 16,300
Started in August 118,400
Completed 118,400
Work in process, August 31 (76% complete with respect to conversion) 16,300

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.

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