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 Work-in-Process Inventory, May 1 Started during May Units to account for Percent completed Tons of Pulp Materials Conversion 4,000 1001 508 14,000 18,000 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 8,400 5.600 18.000 1001 SON The following cost data are available: $ 65,120 Work-In-Process Inventory, May 1 Direct materials Conversion Coste incurred during May Direct materiala Conversion 212,800 275,880 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, Conversion 275,880 02:13:54 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. Equivalent Direct Materiais Conversion Required Required 2 > Units $ 65, 120 64,144 Work-in-Process Inventory. May 1 Direct materials Conversion Costs incurred during May Direct materials Conversion 212,800 275,880 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.) Conts per Equivalent Unit Direct Materials Conversion