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 $ 951 Conversion costs 452 Current period costs Direct materials 14,690 Conversion costs 11,928 Quantity information is obtained from the manufacturing records and includes the following: Beginning inventory 400 units (60% complete as to materials, 55% complete as to conversion) Current period units started 5,200 units Ending inventory 1,400 units (40% complete as to materials, 20% complete as to conversion)

(1) Compute the equivalent units for the materials and conversion cost calculations.

(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.)

(3)Compute the cost of goods transferred out and the ending inventory using the FIFO method. (Do not round intermediate calculations.)