A company uses the process costing system for inventory costs. The following information is available regarding direct materials and conversion costs for the current year:

Units DM CC

Work in process January 1st 5500 100%complete 100%complete

Work in process December 31st 8800 40%complete 25%complete

Units complete and transferred to finished goods 46,900 units

Direct Material cost during the year $266,300

Conversion cost during the year $554900

1) Calculate the equivalent units of production (EUP) for both direct materials (DM) and conversion costs (CC) for the year

2) Calculate the total cost per equivalent unit for both direct materials and conversion costs. (Round up to the nearest cent)