Overboard Corporation uses the first-in, first-out 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: Beginning work in process inventory Units started into production, and costs incurred during the month Units completed and transferred out The cost per equivalent unit for conversion cost is closest to: Multiple Choice $1.82 $1.32 $1.26 $1.79 Units 25,700 Conversion Cost $ 48,000 169,000 149,000 $ 255,000