Sparky Corporation uses the FIFO method of process costing. The following information is available for February in its Molding department Beginning work in process inventory Units started and completed Units completed and transferred out Direct materials Conversion Percent Units Percent Complete 39,000 100% Complete 60% 124,000 163,000 37,000 100% 30% Ending work in process inventory Production cost information for the Molding department follows. Beginning work in process Direct materials Conversion $ 57,000 62,850 $ 119,850 Costs added this period $ 380,100 Conversion 613,158 $ 993,250 Direct materials Calculate the cost per equivalent unit of conversion.