Exercise 8-29 (Algo) Compute Costs per Equivalent Unit: FIFO Method (LO 8-5) The following information pertains to the Moline Facility for the month of May (all materials are added at the beginning of the process): Material Costs Beginning work in process Units 110,000 Started in May 270,000 $ 35,000 109,600 Units completed 260,000 Ending work in process 120,000 Required: Compute the cost per equivalent unit for materials using the FIFO method. (Round "Cost per equivalent unit" answer to 2 decimal places.) Total costs to be accounted for Cost per equivalent unit