The Mixing Department of Premium Foods has 85,000 equivalent units of materials and 71,000 equivalent units of conversion costs for October. The Mixing Department of Premium Foods has direct materials costs of $93,500 and conversion costs of $46,150 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