1. The Lakeside Company uses a weighted-average process costing system. The following data are available:

   Beginning inventory		-0-
   Units started in production		20,000
   Units finished during the period		16,000
   Units in process at the end of the period (complete as to materials, complete as to labor and overhead)		4,000
   Cost of materials used	$	35,200
   Labor and overhead costs	$	37,400

   Cost per equivalent unit of materials is:

   		$1.76.
   		$1.85.
   		$2.07.
   		$2.20.