6-37 Weighted-Average Method weatherly Lumber Company processes wood pulp for manufacturing various paper products. The company employs a process costing system for its manufacturing operations. All direct materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the process. This is the company's production schedule for May: Percentage Completed Materials Conversion Tons of Pulp 5.000 100% 50% 15,000 20.000 Work-in-Process Inventory, May 1 Started during May Units to account for Units from beginning Work-in-Process, which were completed and transferred out during May Started and completed during May Work-in-Process Inventory, May 31 Total units accounted for 5.000 12.000 3,000 100% 50% 20.000 The following cost data are available: Work-in-Process Inventory, May 1 Direct materials $ 94,000 133,120 Conversion Costs incurred during May Direct materials Conversion 229,800 376,000 Required Page 213 1. Calculate the equivalent units of direct materials and conversion during May. Use the weighted average method. 2. Calculate the cost per equivalent unit for both direct materials and conversion during May. Use the weighted- average method