Sparky Corporation uses the FIFO method of process costing. The following information is available for February in its Molding department: Direct materials Conversion Percent Units Percent Complete Beginning work in process inventory 32,000 100% Complete 60% Units started and completed 117,000 Units completed and transferred out 149,000 Ending work in process inventory 33,500 100% 25% Production cost information for the Molding department follows. Costs added this period Beginning work in process Direct materials Conversion Direct materials $ 50,000 55,850 $ 105,850 $ 339,610 Conversion 606,150 $ 945,760 Calculate the cost per equivalent unit of conversion. Multiple Choice $5.28 $2.67 $3.66 $3.47 $4.39