Exercise $8-39($Algo$)$ Compute Costs per Equivalent Unit: FIFO Method $($LO $8-2,5)$

The following cost information is available for July for the Crest Plant at Calvert Company:

References

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

Beginning inventory, $43,000$ partially complete gallons, $55$ percent complete with respect to conversion costs.

Units started in July, $83,000$ gallons.

Units transferred out in July, $93,000$ gallons.

Ending inventory, $33,000$ gallons, $70$ 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.

Note: Round your answers to $2$ decimal places.