Pierce & Company 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 59 percent complete).
- Started this month, 60,600 units.
- Transferred out, 50,300 units.
- Ending inventory, 21,000 units (materials are 100 percent complete; conversion costs are 17 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.