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 Beginning work in process inventory Units started and completed Percent Complete 35,000 100% Complete 60% 120,000 Units completed and transferred out Ending work in process inventory 155,000 35,000 100% 308 Production cost information for the Molding department follows. Beginning work in process Conversion Direct materials $ 53,000 Costs added this period Direct materials Conversion 58,850 $ 111,850 $357,400 609,150 $ 966,550 Calculate the cost per equivalent unit of conversion.