= ( 6-34 Equivalent Units; Weighted-Average and FIFO Unit Cost Pablo Company calculates the cost for an Jequivalent unit of production using process costing. Data for June Work-in-process inventory, June 1:30,000 units Direct materials: 100% complete $ 60,000 Conversion: 40% complete 24,000 Balance in work-in-process, June 1 $ 84,000 Units started during June 70.000 Units completed and transferred out 70,000 Work-in-process inventory, June 30 30,000 Direct materials: 100% complete Conversion: 80% complete Cost incurred during June Direct materials $120,000 Conversion costs Direct labor 120,000 Applied overhead 180,000 Total conversion costs $300,000 Required 1. Compute cost per equivalent unit for both the weighted-average and FIFO methods. 2. Explain the difference between the FIFO and weighted-average unit costs