7. The Assembly department of Moly Corporation had beginning work-in-process costs of $50,000

($30,000 in direct materials, $10,000 in conversion costs, and $10,000 in transferred-in costs).

During the period, $100,000 was spent on direct materials, and $300,000 was spent on conversion costs. Goods that were transferred into the department had cost the previous department

$200,000 to manufacture. Total equivalent units were as follows:

For transferred-in costs 30,000 For direct materials 30,000 For conversion costs 25,500 Calculate cost per equivalent unit for each kind of cost, using first the weighted average method, then the FIFO method (use the same equivalent units for both methods).