Compute Costs per Equivalent Unit-FIFO Method: The beginning work in process inventory showed a balance of $48,240. Of this amount, $16.440 is the cost of direct materials, and $31,800 are conversion costs. There were 8,000 units in the beginning inventory that were 30 percent complete with respect to both direct materials and conversion costs.

During the period, 17,000 units were transferred out and 5,000 remained in the ending inventory. The units in the ending inventory were 80 percent complete with respect to direct materials and 40 percent complete with respect to conversion costs.

Costs incurred during the period amounted to $126,852 for direct materials and $219.120 for converison. The FIFO method is used for inventory accounting purposes.

Required: Compute the cost per equivalent unit for direct materials and for conversion costs.