Albany Mining Corporation uses a process costing system for its ore extraction operations. The following information pertains to work-in-process inventories and operations for the month of May:

		Completion %
	Units	Materials	Conversion
BWIP on May 1	32,000	60%	20%
Started in production	200,000
Completed production	(184,000)
EWIP on May 31	48,000	90%	40%

Costs for the month were as follows:

	BWIP	Incurred in May
Direct materials	$54,560	$ 468,000
Direct labor	20,320	182,880
Factory overhead	15,240	391,160
	$90,120	$1,042,040

Under the FIFO method, Albany Minings equivalent unit cost of materials for May is

A.

$2.06

B.

$2.25

C.

$2.30

D.

$2.51

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