Richards Corporation uses the FIFO method of process costing. The following information is available for October in its Fabricating Department: Units: Beginning Inventory: 86,000 units, 70% complete as to materials and 25% complete as to conversion. Units started and completed: 256,000. Units completed and transferred out: 342,000. Ending Inventory: 33,000 units, 40% complete as to materials and 10% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $43,200. Costs in beginning Work in Process - Conversion: $85,700. Costs incurred in October - Direct Materials: $725,040. Costs incurred in October - Conversion: $925,300. Calculate the cost per equivalent unit of materials.

Multiple Choice $2.73 $2.46 $2.04 $2.40 $2.16