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: Tons of Pulp Percent Completed Materials Conversion Work-in-Process Inventory, May 1 Started during May 3,000 100% 50% 11,000 Units to account for 14,000 Units from beginning Work-in-Process, which were completed and transferred out during May 3,000 Started and completed during May 6,600 Work-in-Process Inventory, May 31 4,400 100% 50% 14,000 Total units accounted for The following cost data are available: Work-in-Process Inventory, May 1 $ Direct materials 43,140 Conversion 32,422 Costs incurred during May Direct materials 168,960 Conversion 280,160 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 Required 1 2 Calculate the equivalent units of direct materials and conversion during May. Use the FIFO method. Direct Materials Conversion Equivalent Units < Required 1 Required 2 > Required Required 1 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.) Direct Materials Conversion Costs per Equivalent Unit < Required 1 Required 2 >