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

Units: Beginning Inventory: 27,000 units, 100% complete as to materials and 55% complete as to conversion. Units started and completed: 112,000. Units completed and transferred out: 139,000. Ending Inventory: 31,000 units, 100% complete as to materials and 30% complete as to conversion.

Costs: Costs in beginning Work in Process - Direct Materials: $45,000. Costs in beginning Work in Process - Conversion: $50,850. Costs incurred in February - Direct Materials: $311,160. Costs incurred in February - Conversion: $601,150. Calculate the cost per equivalent unit of materials. Multiple Choice

$1.93

$2.18

$1.83

$2.51

$2.78