Plerce & Company provides the following information concerning the work in process at its plant: Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 62 percent complete). . Started this month, 59,800 units. . Transferred out, 50.400 units. Ending inventory, 19,300 units (materials are 100 percent complete, conversion costs are 15 percent complete). Required: a. Compute the equivalent units for materials using FIFO. Equivalent units b. Compute the equivalent units for conversion costs using FIFO. Equivalent units The Matsui Lubricants plant uses the FIFO method to account for its work-in-process inventories. The accounting records show the following information for a particular day: $ 2,048 584 Beginning WIP inventory Direct materials Conversion costs Current period costs Direct materials Conversion costs 23,780 14,112 Quantity information is obtained from the manufacturing records and includes the following: Beginning inventory Current period units started Ending inventory 650 units (50% complete as to materials, 60% complete as to conversion) 3,600 units 1,000 units (30% complete as to materials, 20% complete as to conversion) 14,112 Conversion costs Quantity information is obtained from the manufacturing records and includes the following: Beginning inventory Current period units started Ending inventory 650 units (50% complete as to materials, 60% complete as to conversion) 3,600 units 1,000 units (30% complete as to materials, 20% complete as to conversion) Required: 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 Units Direct materials Conversion costs