Richards Corporation uses the FIFO method of process costing. The following information is available for October in its Fabricating department:

Units Direct materials Percent Complete Conversion Percent Complete

Beginning work in process inventory $86,00070\%25\%$

Units started and completed $256,000$

Units completed and transferred out $342,000$

Ending work in process inventory $33,00040\%10\%$

Production cost information for the Fabricating department follows.

Beginning work in process

Direct materials $ $104,760$

Conversion $85,700$ $ $190,460$

Costs added this period

Direct materials $ $725,040$

Conversion $1,033,990$ $ $1,759,030$

Calculate the cost per equivalent unit for conversion.

Multiple Choice

$$2\mathrm{.}96$

$$3\mathrm{.}46$

$$2\mathrm{.}72$

$$3\mathrm{.}19$

$$4\mathrm{.}04$