Required information [The following information applies to the questions displayed below.] The Matsui Lubricants plant uses the weighted-average 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 $ 976 Conversion costs 272 Current period costs Direct materials Conversion costs 11,440 6,644 Quantity information is obtained from the manufacturing records and includes the following. Beginning inventory Current period units started Ending inventory 600 units (60% complete as to materials, 53% complete as to conversion) 4,000 units 1,200 units (40% 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 conversion costs.