Candace's Candies, Inc. produces gummy bears. The company purchases raw materials, stores them in a warehouse, and then runs them through two processes: production and packaging. During September, the production process incurred the following costs in processing: Wages of workers operating production equipment Manufacturing overhead allocated to the production department Direct materials $50,200 5,000 220,000 Equivalent units of production was 27,000 units for materials and 26,500 units for conversion. Use the FIFO method to compute the September cost per equivalent unit of production for conversion.