During November, the following activities and cost flows were recorded for the first production department of a company that uses the FIFO method for its product costing purpose: a. All materials are added at the beginning of the process, and conversion costs are added evenly during the process. b. Beginning WIP had 600 units, 40% complete with respect to conversion. Costs in the beginning WIP included material costs of $4,020 and conversion costs of $1,320. c. During November, 9,400 units were started in process. Costs added during the period were materials, $63,920; and conversion, $50,668. d. At the end of November, total 9,500 units were completed and transferred-out to the next department. The remaining ending WIP was 60% complete with respect to conversion. What is the cost-per-equivalent unit which includes both materials and conversion costs (Choose the closest value to your answer)? $11.80 $12.67 $12.25 $12.10