Dorchester Company, on March 1, 2021 has a beginning Work in Process inventory of zero. All materials are added into production at the beginning of its production. There is only one production WIP inventory. On March 1, Dorchester started into production 15 500 units. At the end of the month there were 11 000 units completed and transferred into the Finished Goods Inventory. The ending WIP was 60% complete with respect to conversion. For the month of March the following costs were incurred and recorded in the WIP:

Direct Material$16 000

Direct Labor32 000

Factory Overhead15 000

Dorchester uses the weighted-average process costing method. Use this information to determine the cost per equivalent unit of conversion for the month of March. Round answer to closest cent.

During March 2021, Virginia Bay Corporation recorded $275,000 of costs related to factory overhead.Virginia Bay's overhead application rate is based on direct labor hours. The preset formula for overhead application estimated that $250 000 would be incurred, and 7 200 direct labor hours would be worked.During March, 11,000 hours were actually worked. Use this information to determine the standard overhead rate.Round to closest cent.