Assume Towery Company uses a process costing system based on the FIFO method. Towery's accountant produces the following equivalent unit calculations for the month of July for the first department: here do the units come from? Beginning inventory Stated Total 700 5.000 5,700 Where do the units go? Complete/Transferred Beginning Inventory Started and Completed Ending Inventory Total Equivalent Units Drect in Conversion 700 0% 4,100 100% 900 100% 5,700 Materials Mon 0 60% 4,100 100% 900 70% 5,000 Costs 420 4,100 630 5,150 Also assume that the beginning inventory had accumulated $2,850 of materials and $7,930 of conversion costs in the previous month. During the month of July, current costs included $51,100 of materials and $79,310 of conversion costs. Calculate the average cost per equivalent unit for conversion costs for the month of July. Select one: a. $0.05 O b. $1.54 0 C. $15.40 d. $19.48 0 e. $20.45 +