Exercise 8-37 (Algo) Compute Costs per Equivalent Unit: Weighted-Average Method (LO 8-2,3) The following cost information is available for July for the Crest Plant at Calvert Company: Materials are added at the beginning of the process. The following quantities have been recorded: - Beqinning inventory, 42.500 partially complete gallons 50 pelcatecomplete with respect to conversion costs - Units started in July, 82,500 gallons - Unis transfered out in July, 92500 gallons. - Ending inventory, 32,500 galions, 65 percent complete with respect to corversion costs. Required: Compute the cost per equivalent unit for direct materials and conversion costs for fuly using the weighted-average method Materials are added at the beginning of the process. The following quantities have been recorded: - Beginning inventory, 42,500 partially complete gallons, 50 percent complete with respect to conversion costs. - Units started in July, 82,500 gallons. - Units transferred out in July, 92,500 gallons. - Ending inventory, 32,500 gallons, 65 percent complete with respect to conversion costs. Required: Compute the cost per equivalent unit for direct materials and conversion costs for July using the weighted-average method: Note: Round your answers to 2 decimal places