The Rainbow Paint Company uses a process costing system. Materials are added at the starting of process and conversion costs are incurred uniformly. Work in process at the beginning of the month is 40 percent complete; at the end, 20 percent. One gallon of material makes one gallon of product. Information follows:

Beginning inventory 550 gal
Direct material added 7,150 gal
Ending inventory 400 gal
Conversion cost incurred $35,724
Cost of direct materials added $65,340
Conversion costs, beginning inventory $1,914
Cost of direct materials, beginning inv. $3,190

Use the weighted average method. Prepare a schedule of the output in equivalent units for materials and conversion costs.

Equivalent units of material__________________-
Equivalent units of conversion costs_____________

What costs should be included in WIP for direct materials and conversion costs. [5 points] material__________; conversion costs_____________-

Calculate the cost per equivalent unit [5 points]
Material__________________ conversion cost______________-