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The following cost information is available for July for the Crest Plant at Calvert Company: Beginning work-in-process inventory Materials cost $ 65,500 Conversion cost 44,500

The following cost information is available for July for the Crest Plant at Calvert Company:

Beginning work-in-process inventory
Materials cost $ 65,500
Conversion cost 44,500
Total $ 110,000
Current costs
Materials cost $ 215,000
Conversion cost 465,000
Total $ 680,000

Materials are added at the beginning of the process. The following quantities have been recorded:

  • Beginning inventory, 49,500 partially complete gallons, 15 percent complete with respect to conversion costs.
  • Units started in July, 89,500 gallons.
  • Units transferred out in July, 99,500 gallons.
  • Ending inventory, 39,500 gallons, 65 percent complete with respect to conversion costs.

Required:

Compute the cost per equivalent unit for direct materials and conversion costs for July using the weighted-average method.

Note: Round your answers to 2 decimal places.

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