The Mixing Department of Best Foods has 65,000 equivalent units of materials and 47,000 equivalent units of conversion costs for October. The Mixing Department of Best Foods has direct materials costs of $20,800 and conversion costs of $23,500 for October. Compute the cost per equivalent unit of production for direct materials and for conversion costs. (Round to the nearest cent.) Begin by determining the formula to compute cost per equivalent unit. The direct materials cost per equivalent unit = The conversion cost per equivalent unit = Cost per equivalent unit