URGENT in two hours.

Weatherly Lumber Company processes wood pulp for manufacturing various paper products. The company employs a process costing system for its manufacturing operations. All direct materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the process. This is the companys production schedule for May: Percent Completed Tons of Pulp Materials Conversion Work-in-Process Inventory, May 1 4,000 100 % 50 % Started during May 12,000 Units to account for 16,000 Units from beginning Work-in-Process, which were completed and transferred out during May 4,000 Started and completed during May 7,200 Work-in-Process Inventory, May 31 4,800 100 % 50 % Total units accounted for 16,000 The following cost data are available: Work-in-Process Inventory, May 1 Direct materials $ 61,280 Conversion 7,256 Costs incurred during May Direct materials 180,480 Conversion 301,600 Required: 1. Calculate the equivalent units of direct materials and conversion during May. Use the FIFO method. 2. Calculate the cost per equivalent unit for both direct materials and conversion during May. Use the FIFO method.

Weatherly Lumber Company processes wood pulp for manufacturing various paper products. The company employs a process costing system for its manufacturing operations. All direct materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the process. This is the company's production schedule for May: Percent Completed Tons of Pulp 4,000 12,000 16,000 Materials Conversion 100% 50% Work-in-Process Inventory, May 1 Started during May Units to account for Units from beginning Work-in-process, which were completed and transferred out during May Started and completed during May Work-in-Process Inventory, May 31 Total units accounted for 4,000 7,200 4,800 16,000 100% 50% The following cost data are available: Work-in-Process Inventory, May 1 Direct materials Conversion Costs incurred during May Direct materials Conversion $ 61,280 7,256 180, 480 301,600 Required: 1. Calculate the equivalent units of direct materials and conversion during May. Use the FIFO method. 2. Calculate the cost per equivalent unit for both direct materials and conversion during May. Use the FIFO method. Required: 1. Calculate the equivalent units of direct materials and conversion during May. Use the FIFO method. 2. Calculate the cost per equivalent unit for both direct materials and conversion during May. Use the FIFO method. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the equivalent units of direct materials and conversion during May. Use the FIFO method. Direct Materials Conversion Equivalent Units 12,000 11,600 Required: 1. Calculate the equivalent units of direct materials and conversion during May. Use the FIFO method. 2. Calculate the cost per equivalent unit for both direct materials and conversion during May. Use the FIFO method. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the cost per equivalent unit for both direct materials and conversion during May. Use the FIFO method. (Round your answers to 2 decimal places.) Costs per Equivalent Unit Direct Materials Conversion