4. Qart Corporation uses the FIFO method in its process costing system. Operating data for the Cutting Department for the month of March appear below. Percent Complete with Respect to Units Conversion Beginning work in process inventory ....... 4,500 20% Transferred in from the prior department dunng March ...... 74.000 Completed and transferred to the next department during March... 74,500 Ending work in process inventory 4,000 60% According to the company's records, the conversion cost in beginning work in process inventory was $1,656 at the beginning of March. Additional conversion costs of $129,960 were incurred in the department during the month. The cost per equivalent unit for conversion costs for March is closest to