If you want to use the arm as-is, you need to calculate the component of mg perpendicular to it. Mg is the resultant vector, not a component vector. The two legs of the component vector are drawn parallel to and perpendicular to the arm.
It would certainly help you out if you drew yourself a picture. Bear-in-mind, though, that the arms on these devices are not straight lines and/or don't connect directly to the fulcrum, so you'll also need to draw-in and calculate the length and angle of the "effective" arm from the fulcrum to the weight.