The following information pertains to the Davenport plant for the month of May (all materials are added at the beginning of the process):

Units Material Costs

Beginning work in process 70,000 $ 35,000

Started in May 240,000 100,800

Units completed 255,000

Ending work in process 55,000

Required: Compute the cost per equivalent unit for materials using the FIFO method. (Round your answer to 2 decimal places.)