Sparky Corporation uses the FIFO method of process costing. The following information is available for February in its Molding Department:

Units:

Beginning Inventory: 29,000 units, 100% as to materials and 60% as to conversion.

Units started and completed: 114,000.

Units completed and transferred out: 143,000.

Ending Inventory: 32,000 units, 100% as to materials and 25% as to conversion.

Costs:

Costs in beginning Work in Process - Direct Materials: $47,000.

Costs in beginning Work in Process - Conversion: $52,850.

Costs incurred in February - Direct Materials: $320,650.

Costs incurred in February - Conversion: $603,150.

Calculate the cost per equivalent unit of conversion.

• 5.38
• $3.58
• $2.80
• $3.81
• $4.51