Exercise 8-37 (Algo) Compute Costs per Equivalent Unit: Weighted-Average Method (LO 8.2, 3) The following cost information is available for July for the Crest Plant at Calvert Company Materials are added at the beginning of the process. The following quantities have been recorded - Beginning inventory, 49,500 partially complete gallons, 15 percent complete with respect to conversion costs - Units started in July, 89,500 gallons. - Units transferred out in July, 99,500 gallons. - Ending inventory. 39,500 gallons, 65 percent complete with respect to conversion costs. Required: Compute the cost per equivalent unit for direct materials and conversion costs for July using the weighted-average method. Note: Round your answers to 2 decimal places