The following information pertains to the Moline Facility for the month of May (all materials are added at the beginning of the process): Units Material Costs Beginning work in process 110,000 $ 34,000 Started in May 260,000 106,400 Units completed 240,000 Ending work in process 130,000 Required: Compute the cost per equivalent unit for materials using the FIFO method. (Round "Cost per equivalent unit" answer to 2 decimal places.)