Weighted-Average Method

The following information about the work-in-process inventory pertains to the Remington Plant for the month of July (all materials are added at the beginning of the process): The Remington Plant started 229,000 units and transferred out 213,000 in July, Materials costs incurred in July were $724,000 and conversion costs were $1,109,000. Required: Compute the cost per equivalent unit for materials and conversion costs using the weighted-average method. Note: Round your answers to 2 decimal places