Normand 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		700
Materials costs	$	8,700
Conversion costs	$	3,700
Percent complete with respect to materials		70	%
Percent complete with respect to conversion		10	%
Units started into production during the month		6,400
Units transferred to the next department during the month		5,600
Materials costs added during the month	$	92,200
Conversion costs added during the month	$	269,600
Ending work in process inventory:
Units in ending work in process inventory		1,500
Percent complete with respect to materials		80	%
Percent complete with respect to conversion		25	%

The cost per equivalent unit for conversion costs for the first department for the month is closest to:

Multiple Choice

• $45.66

• $52.86

• $48.14

• $47.94