STEPHCO uses a process cost accounting system. Its Assembly Department's beginning inventory consisted of 50,000 units, 3/5 complete with respect to direct labor and overhead. Cost of beginning inventory is labor $200,000 and overhead is $300,000. The department started 137,000 units this period. The ending inventory consists of 60,000 units that are 1/4 complete with respect to direct labor and overhead. All direct materials are added at the beginning of the process. The department incurred direct labor costs of $440,000 and overhead costs of $520,000 for the period. Assume FIFO method to determine the conversion cost per equivalent unit. O $4.64 per EU O $8.57 per EU $10.28 per EU O $3.92 per EU O $7.00 per EU