Captured with Xnip Kimbeth Manufacturing uses a process cost system to manufacture Dust Density Sensors for the mining industry. The following information pertains to operations for the month of May 2012: Units Beginning work in process inventory, May 1 16,000 Started in production during May 100,000 Completed production during May 92,000 Ending work in process inventory, May 31 24,000 The beginning inventory was 60% complete for materials and 20% complete for conversion costs. The ending inventory was 90% complete for materials and 40% complete for conversion costs. Costs pertaining to the month of May are as follows: The beginning inventory costs are: materials, $54,560; direct labor, $20,320; and factory overhead, $15,240. Costs incurred during May are: materials used, $468,000; direct labor, $182,880; and factory overhead, $391,160. Using the FIFO method, the equivalent unit cost of materials for May is $4.60 $4.80 $4.12 $4.50