Matrix Inc. calculates cost for an equivalent unit of production using the weighted-average method. Data for July: Work-in-process inventory, July 1 (40,000 units): Direct materials (92% completed) Conversion (58% completed) $122,800 77,250 Balance in work in process inventory, July 1 $200,050 Units started during July Units completed and transferred Work-in-process inventory, July 31: Direct materials (92% completed) Conversion (58% completed) Cost incurred during July: Direct materials Conversion costs 94,000 109,200 24,800 $184,000 292,000 Cost per equivalent unit for materials under the weighted-average method is calculated to be: