Train Co. utilizes process costing for its main product, toy trains. Data relating to toy trains processed in Department 1, Moulding, during August are presented as follows:

	Toy Trains	Percentage Completed*
Work in Process, beginning	40,000	70%
Started into Process during Period	60,000
Work in Process, ending	20,000	30%
* relates to conversion costs

* related to conversion costs Materials are added at the beginning of the process in Department 1. Costs in beginning work in process inventory were $250,000 of direct materials and conversion cost of $500,000. Costs added during the period were $390,000 for direct materials and conversion costs of $780,000. The company uses the FIFO method of accounting for units. Required: a. Prepare a quantity schedule. b. Compute the equivalent units for the period according to the FIFO method of accounting for units. c. Calculate the cost per equivalent unit using the FIFO method. Round answer to two decimal places.