Richards Corporation uses the FIFO method of process costing. The following information is available for October in its Fabricating department Direct materials Conversion Percent Units Percent Complete Complete Beginning work in process inventory 89,000 80% 25% Units started and completed 259,000 Units completed and transferred out 348,000 Ending work in process inventory 34,500 30% 108 Production cost information for the Fabricating department follows. Beginning work in process Direct materials $ 46,200 Conversion 88,700 $ 134,900 Costs added this period Direct materials $ 722,370 Conversion 928,300 $ 1,650,670 Calculate the cost per equivalent unit for direct materials