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 $ 985

Conversion costs 572

Current period costs Direct materials 27,275

Conversion costs 18,722

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

Beginning inventory 850 units (70% complete as to materials, 60% complete as to conversion)

Current period units started 6,000 units Ending inventory 1,600 units (50% complete as to materials, 20% complete as to conversion)

information Required:

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

a. equivalent units for materials = ?

b. equivalent units for conversion costs = ?

(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.)

a. Direct Materials (cost per equivalent unit) = ?

b. Conversion costs (cost per equivalent unit) = ?

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

a. cost of goods transferred out = ?

b. Cost of ending inventory = ?