Parsons Corporation Parsons Corporation Parsons Corporation has the following information for May: Beginning Work in Process Inventory (35% complete as to materials and 75% complete as to conversion) Started Ending Work in Process Inventory (15% complete as to material and 30% complete as to conversion) Beginning WIP Inventory Costs: Material P25,500 Conversion 52,725 7,500 units 27,000 units 9,400 units Current Period Costs: Material Conversion P34,300 80,845 All material is added at the start of the process and all finished products are transferred out. Refer to Parsons Corporation. Assume that weighted average process costing is used. What is the cost per equivalent unit for material? (round off answer to three decimal places)*