A Company Uses a Process Cost Accounting System (A) Calculate the Equivalent Units of Production for Direct Labor

A company uses a process cost accounting system.The following information is available regarding direct labor for the current year:
$$\begin{array} { l l } \text { Goods in process, January } 1 & 5,500 \text { units, } 80 \% \\&\text { complete } \\\text { Goods in process, December } 31 & 8,800 \text { units, } 40 \% \\&\text { complete } \\\text { Units completed and transferred to } & \\\text { Finished goods } & 46,900 \text { units } \\\text { Direct labor costs during the year } & \$ 266,300\end{array}$$
(a) Calculate the equivalent units of production for direct labor for the year using FIFO.
(b) Calculate the average cost per equivalent unit for direct labor (round to the nearest cent).