Compute the number of equivalent units with respect to conversion using the weighted average method. Direct Materials Percent Complete 100% Conversion Percent Complete 55% Beginning work in process inventory Units started and completed Units completed and transferred out Ending work in process inventory Units 35,000 110,000 145,000 40,000 100% 30% Cycling Corporation identified the following budgeted data for this year. The company produces two types of bicycles, Recreational and Racing. Activity Handling materials Quality inspection Purchasing Total Budgeted Overhead Cost $ 2,500,000 360,000 100,000 $ 2,960,000 Budgeted Activity 400,000 parts 6,000 inspections 4,000 orders The company allocates overhead cost based on 10,000 budgeted direct labor hours. The Recreational bicycle uses 5 direct labor hours per unit, and the Racing bicycle uses 10 direct labor hours per unit. Overhead cost per unit for the Racing bicycle is