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	$	976
Conversion costs		272
Current period costs
Direct materials		11,440
Conversion costs		6,644

Quantity information is obtained from the manufacturing records and includes the following:

Beginning inventory	600	units	(60% complete as to materials, 53% complete as to conversion)
Current period units started	4,000	units
Ending inventory	1,200	units	(40% complete as to materials, 20% complete as to conversion)

Required: (1) Compute the equivalent units for the materials and conversion cost calculations. Answer is complete but not entirely correct Equivalent units for materials 2,800 Equivalent units for conversion costs 240 (2) Compute the cost per equivalent unit for direct materials and for conversion costs using the FIFO method. (Round your answers to 2 decimal places.) Answer is complete but not entirely correct. Cost Per Equivalent Unit Direct materials S Conversion costs 3.20 1.90