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Assume Towery Company uses a process costing system based on the weighted average method. Towery's accountant produces the following equivalent unit calculations for the month

Assume Towery Company uses a process costing system based on the weighted average method. Towery's accountant produces the following equivalent unit calculations for the month of July for the first department:
Equivalent Units
Direct Materials Conversion Costs
% Done Units % Done Units
Completed and transferred 100%3,600100%3,600
Ending inventory 100%67570%473
Equivalent units of production 4,2754,073
Also, assume that the beginning inventory had accumulated $2,280 of materials and $6,344 of conversion costs in the previous month. During the month of July, current costs included $27,998 of materials and $77,930 of conversion costs.
Calculate the average cost per equivalent unit for conversion costs for the month of July.

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