Assume the following information: Milling Department cost of beginning work in process inventory Costs added during the period Total cost Materials $ 10,000 290, 500 $300, 500 Conversion $ 15,000 385,000 $400,000 Total $ 25,000 675,500 $700,500 If the equivalent units of production for materials is 6,000 units using the weighted average method, then what is the cost per equivalent unit for materials? Multiple Choice $48.42 $116.75 $66.67 $50.08