Conlon Chemicals manufactures paint thinner. Information on the work in process follows: Beginning inventory, 40,600 partially complete gallons. Transferred out, 211,300 gallons. Ending inventory (materials are 21 percent complete; conversion costs are 8 percent complete). Started this month, 244,500 gallons. Required: a. Compute the equivalent units for materials using the weighted average method. Equivalent units (gallons) 266,798 b. Compute the equivalent units for conversion costs using the weighted average method. Equivalent units (gallons) The Matsui Lubricants plant uses the weighted average method to account for its work- in-process inventories. The accounting records show the following information for a particular day: $ 1,918 444 Beginning WIP inventory Direct materials Conversion costs Current period costs Direct materials Conversion costs 22,660 13,918 Quantity information is obtained from the manufacturing records and includes the following: Beginning inventory Current period units started Ending inventory 600 units (60% complete as to materials, 63% complete as to conversion) 4,000 units 1,200 units (40% complete as to materials, 10% complete as to conversion) Quantity information is obtained from the manufacturing records and following: Beginning inventory 600 units (60% complete as to materials, 63% complete as to conversion) 4,000 units 1,200 units (40% complete as to materials, 10% complete as to conversion) Current period units started Ending inventory Required: Compute the cost per equivalent unit for direct materials and conversion costs using weighted average method. (Round your answers to 2 decimal places.) Cost Per Equivalent Unit Materials Conversion costs