Beginning work$-$in$-$process inventory

Materials cost $ $64,000$

Conversion cost $43,000$

Total $ $107,000$

Current costs

Materials cost $ $200,000$

Conversion cost $450,000$

Total $ $650,000$

Materials are added at the beginning of the process. The following quantities have been recorded:

Beginning inventory, $48,000$ partially complete gallons, $25$ percent complete with respect to conversion costs.

Units started in July, $88,000$ gallons.

Units transferred out in July, $98,000$ gallons.

Ending inventory, $38,000$ gallons, $50$ percent complete with respect to conversion costs.

Required:

Compute the cost per equivalent unit for direct materials and for conversion costs for July using the FIFO method.