Pacific Ink had beginning work-in-process inventory of $890,960 on October 1. Of this amount, $358,200 was the cost of direct materials and $532,760 was the cost of conversion. The 62,000 units in the beginning inventory were 25 percent complete with respect to both direct materials and conversion costs.

During October, 130,000 units were transferred out and 44,000 remained in ending inventory. The units in ending inventory were 75 percent complete with respect to direct materials and 35 percent complete with respect to conversion costs. Costs incurred during the period amounted to $3,304,000 for direct materials and $4,130,820 for conversion.

Cost of goods transferred out	$
Ending inventory

Pacific Ink had beginning work-in-process inventory of $905,260 on October 1. Of this amount, $371,520 was the cost of direct materials and $533,740 was the cost of conversion.The 56,000 units in the beginning inventory were 30 percent complete with respect to both direct materials and conversion costs.

During October, 118,000 units were transferred out and 38,000 remained in ending inventory.The units in ending inventory were 80 percent complete with respect to direct materials and 40 percent complete with respect to conversion costs. Costs incurred during the period amounted to $2,895,200 for direct materials and $3,631,680 for conversion.

(1) Compute the equivalent units for the materials and conversion cost calculations.

Equivalent units for materials
Equivalent units for conversion costs

(2) Compute the cost per equivalent unit for direct materials and for conversion costs using the FIFO method. (Round your answers to 2 decimal places.)

	Cost Per Equivalent Unit
Direct materials	$22.00
Conversion costs