[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 976 272 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, 538 complete as to conversion) 4,000 units 1,200 units (40% complete as to materials, 208 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. Complete this question by entering your answers in the tabs below. Required A Required B Compute the equivalent units for the materials and conversion cost calculations, Equivalent units for materials Equivalent units for conversion costs Required A Required B Complete this question by entering your answers in the tabs below. Required A Required B Compute the cost per equivalent unit for direct materials and for conversion costs using the FIFO method. (Round your answers to 2 decimal places.) Cost Per Equivalent Unit Direct materials Conversion costs