During January, the production department of a process operations system completed and transferred to finished goods a total of 90,000 units. At the end of January, 18,000 additional units were in process in the production department and were 45% complete with respect to conversion. The beginning inventory included conversion cost of $37,900 and the production department incurred conversion costs of $300,700 during January. Compute the cost per equivalent unit for conversion for the department using the weighted-average method.

Multiple Choice

$3.14.

$3.07.

$3.76.

$3.34.

$3.45.