Overboard Corporation uses the FIFO method in its process costing system. In the Cutting Department in June, units were 80% complete with respect to conversion in the beginning work in process inventory and 25% complete with respect to conversion in the ending work in process inventory. Other data for the department for June follow: Unite Beginning work in process inventory 25,400 Units started into production, and costs incurred during the month Units completed and transferred out 168,000 Conversion Cost $47,000 $253,000 148,000 The cost per equivalent unit for conversion cost is closest to: