Hayek Corporation uses the FIFO method in its process costing. The following data concern the company's mixing department for the
month of August.
Materials Conversion
Work in process, August 1 $31,734 $30,320
Cost added to production in the mixing department during August $91,332 $81,864
Equivalent units of production for August 7,740 7,580
Required:
What are the cost per equivalent unit for materials and the cost per
equivalent for conversion for the mixing department for August using
the FIFO method?