The Seinfeld Corporation was recently formed to produce a semiconductor chip that forms an essential part of the personal computer manufactured by a major corporation. The direct materials are added at the start of the production process while conversion costs are added uniformly throughout the production process. June is the company's first month of operations, and therefore, there was no beginning inventory Direct materials cost for the month totaled $950,000, while conversion costs equaled $4,625,000. Accounting records indicate that 475,000 chips were started in June and 425,000 chips were completed, leaving 50,000 chips unfinished. The company assumes a weighted average cost flow. What is the Direct Material cost per equivalent unit? $2.00 O $2.24 $4.48 $4.00