Problem 6-37 Weighted Average Method [LO 6-2, 6-4] Weatherly Lumber Company processes wood pulp for manufacturing various paper products. The company employs a process costing system for its manufacturing operations. All direct materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the process. This is the company's production schedule for May: Percent Completed Tons of Pulp 5,000 12,000 17,000 Materials 100% Conversion 50% Work-in-Process Inventory, May 1 Started during May Units to account for Units from beginning Work-in-process, which were completed and transferred out during May Started and completed during May Work-in-Process Inventory, May 31 Total units accounted for 5,000 7,200 4,800 17,000 100% 50% The following cost data are available: $ 73,690 23,494 Work-in-Process Inventory, May 1 Direct materials Conversion Costs incurred during May Direct materials Conversion 188, 280 315,810 Required: 1. Calculate the equivalent units of direct materials and conversion during May. Use the weighted average method. 2. Calculate the cost per equivalent unit for both direct materials and conversion during May. Use the weighted-average method