Sparky Corporation uses the weighted-average 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 Units started and completed 40,000 100% Complete 55% 140,000 Units completed and transferred out 180,000 Ending work in process inventory 37,500 100% 25% Production cost information for the Molding department follows. Beginning work in process Direct materials Conversion Costs added this period Direct materials Conversion $ 58,000 63,850 $121,850 $ 388,250 614,150 1,002,400 Calculate the cost per equivalent unit of conversion. Multiple Choice $3.72 $3.58 $4.54 $4.82 $3.03