Lights Incorporated calculates cost for an equivalent unit of production using the weighted-average method. Data for July: Work-in-process inventory, July 1 (36,000 units): Direct materials (100% completed) Conversion (50% completed) Balance in work in process inventory, July 1 Units started during July Units completed and transferred Work-in-process inventory, July 31: Direct materials (100% completed) Conversion (50% completed) Cost incurred during July: Direct materials Conversion costs $ 122,400 76,800 $ 199,200 90,000 102,000 24,000 $ 180,000 288,000 Cost per equivalent unit for materials under the weighted-average method is calculated to be: Multiple Choice $2.00. $2.40. Prev 3 of 10 Next Cost per equivalent unit for materials under the weighted-average method is calculated to be: Multiple Choice $2.00. $2.40. $3.00. $3.10. $3.20 9