Sparky Corporation uses the FIFO method of process costing. The following information is available for February in its Molding Department: Units: Beginning Inventory: 26,000 units, 100% complete as to materials and 60% complete as to conversion. Units started and completed: 111,000. Units completed and transferred out: 137,000. Ending Inventory: 30,500 units, 100% complete as to materials and 25% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $44,000. Costs in beginning Work in Process - Conversion: $49,850. Costs incurred in February - Direct Materials: $305,650. Costs incurred in February - Conversion: $600,150. Calculate the cost per equivalent unit of materials. $1.96 $2.75 $2.16 $2.52 $1.82