Exercise 6-34 Equivalent Units; Weighted-Average and FIFO Equivalent Unit Cost [LO 6-2, 6-3, 6-4, 6-5] Pablo Company calculates the cost for an equivalent unit of production using process costing. Data for June Work-in-process inventory, June 1: 23,000 units Direct materials: 100% complete $ 46,000 Conversion: 40% complete 18,400 Balance in work-in-process, June 1 $ 64,400 Units started during June 54,600 Units completed and transferred out 54,600 Work-in-process inventory, June 30 23,000 Direct materials: 100% complete Conversion: 80% complete Costs incurred during June Direct materials $ 163,800 Conversion costs Direct labor 163,800 Applied overhead 207,480 Total conversion costs $ 371,280 Required: 1. Compute the cost per equivalent unit for both the weighted-average and FIFO methods. (Round your answers to 3 decimal places.)