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 2,000 100 % 50 %

Started during May 12,000

Units to account for 14,000 Units from beginning Work-in-Process, which were completed and transferred out during May 2,000

Started and completed during May 7,200

Work-in-Process Inventory, May 31 4,800 100 % 50 %

Total units accounted for 14,000

The following cost data are available: Work-in-Process Inventory, May 1

Direct materials $ 30,740

Conversion 55,524

Costs incurred during May

Direct materials 184,440

Conversion 263,940

Required:

1. Calculate the equivalent units of direct materials and conversion during May. Use the weighted-average method.

2. Calculate the cost per equivalent unit for both direct materials and conversion during May. Use the weighted-average method.