Lights Incorporated calculates cost for an equivalent unit of production using the weighted average method. Data for July: Work-in-process inventory, July 1 (36,000 units): Direct materials (100% completed) Conversion (50% completed) Balance in work in process inventory, July 1 Units started during July Units completed and transferred Work-in-process inventory, July 31: Direct materials (100% completed) Conversion (50% completed) Cost incurred during July: Direct materials. Conversion costs $122,400 76,800 $ 199,200 90,000 102,000 24,000 $ 180,000 288,000 Cost per equivalent unit for materials under the weighted-average method is calculated to be: