[5 Marks] The Fuller Company manufactures a product that goes through two departments prior to completion. The following information is available on work in one of these departments, the Forming Department, during May: Percent Completed Number of Units Materials Conversion Work in process, May 1 70,000 5/7 3/7 Started into production 460,000 Completed and transferred 450,000 out Work in process, May 31 80,000 7/8 5/8 Cost in the beginning work-in-process inventory and cost added during the month were as follows: Work in process, May 1 Cost added during May Materials $42,190 $440,810 Conversion $38,000 S394,000 The Forming Department is the first department in the production process; after forming has been completed, the units are transferred to the Finishing Department. Required: MAKE SURE THAT YOU SHOW ALL OF YOUR CALCULATIONS FOR FULL MARKS AND THAT THEY ARE PROPERLY LABELLED. Using the FIFO method: a) [3 Marks] Determine the equivalent units of production for materials and conversion costs. b) [2 Marks] Determine the cost per equivalent unit for materials and conversion costs, rounded to the nearest tenth of a cent