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 Calvent Company: Materials are added at the beginning of the process. The following quantities have been recorded: - Beginning inventory, 43,500 partially complete gallons. 60 percent complete with respect to conversion costs. - Units started in July, 83,500 gallons. - Units transferred out in July, 93,500 gallons. - Ending inventory, 33,500 gallons, 75 percent complete with respect to conversion costs. Required: Compute the cost per equilialent unit for direct materials and for conversion costs for July using the FIFO method. Note: Round your onswers to 2 decimal places