Percent Completed Tons of Pulp Materials Conversion Work-in-Process Inventory, May 1 4,000 100% 50% Started during May 14, 000 Units to account for 18, 000 Units from beginning Work-in-Process, which were completed and transferred out during May 4,000 Started and completed during May 8,406 Work-in-Process Inventory, May 31 5, 600 100% 50% Total units accounted for 18, 000 The following cost data are available: Work-in-Process Inventory, May 1 Direct materials $ 54, 460 Conversion 171, 632 Costs incurred during May Direct materials 218, 960 Conversion 264, 900 Required: 1. Calculate the equivalent units of direct materials and conversion during May. Use the FIFO method. 2. Calculate the cost per equivalent unit for both direct materials and conversion during May. Use the FIFO method