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:

	Tons of Pulp	Percent Completed
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	$ 19,900
Conversion	36,012
Costs incurred during May
Direct materials	191,640
Conversion	280,900

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