Garrison Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below:

Beginning work-in-process inventory:
Units in beginning work-in-process inventory		680
Materials costs	$	7,400
Conversion costs	$	40,120
Percent complete with respect to materials		60	%
Percent complete with respect to conversion		10	%
Units started into production during the month		8,600
Materials costs added during the month	$	103,800
Conversion costs added during the month	$	260,800
Ending work-in-process inventory:
Units in ending work-in-process inventory		2,300
Percent complete with respect to materials		55	%
Percent complete with respect to conversion		10	%

The cost per equivalent unit for conversion costs for the first department for the month is closest to: (Round your answer to 2 decimal places.)

Multiple Choice

• $37.06.

• $38.34.

• $37.00.

• $36.52.