Required information The following information applies to the questions displayed below.) 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. Beginning WIP inventory Direct materials Conversion costs Current period costs Direct materials Conversion costs .$ 1,010 527 22,540 15,283 Quantity information is obtained from the manufacturing records and includes the following Beginning inventory Current period units started Ending inventory 700 units (65% complete as to materials, 55% complete as to conversion) 5,700 units 1,908 units (45% complete as to materials, 20% complete as to conversion) Required: a. Compute the equivalent units for the materials and conversion cost calculations. b. Compute the cost per equivalent unit for direct materials and for conversion costs using the FIFO method