hair product manufacturer offers the following information:

WIP Inventory, January 1

0 units

Units started

32,600 units

Units completed and transferred out

16,200 units

WIP Inventory, December 31

16,400 units

Direct materials

$282,480

Direct labor

$585,000

Manufacturing Overhead

$330,920

The units in ending WIP Inventory were 60% complete for materials and 40% complete for conversion costs. On December 31, the cost per equivalent unit for materials would be closest to