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	54,000	$	148,500
Started in May	144,000		475,200
Units completed	153,000
Ending work in process	45,000

Required:

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