Sparky Corporation uses the FIFO method of process costing. The following information is available for February in its Molding Department Units Beginning Inventory 40,000 units, 100% complete as to materials and 55% complete as to conversion Units started and completed: 125,000 Units completed and transferred out: 165,000 Ending Inventory 37,500 units, 100% complete as to materials and 25% complete as to conversion Costs: Costs in beginning Work in Process Direct Materials: $58,000 Costs in beginning Work in Process - Conversion: $63,850 Costs incurred in February - Direct Materials: $388,250 Costs incurred in February - Conversion $614,150 Calculate the cost per equivalent unit of materials Multiple Choice O $2.39 O $1.61 $3.11 $2.83 $1.92