Q62-19 Kimbeth Manufacturing uses a process costing system. The following information pertains to operations for the month of May: Units Material Conversion 32,000 85% 70% Beginning work in process inventory Started into production during May Completed during May Ending work in process inventory 100,000 96,000 36,000 65% 55% Materials Conversion Beginning work-in-process inventory $55,000 $48,000 Costs incurred during May $654,000 $532,000 Required: Using FIFO method, determine the cost per equivalent unit of Material for May. Round your answer to two decimals