Work in process in Cook Company's Baking Department is: Work in process - Baking Department $ 696 To Finished Goods, 500 units 555 Beginning inventory, 200 units, 40% completed Direct materials, 370 units @ $1.50 Direct labor, 50 hours @ $15.30 Factory overhead, 50 hours @ $6.40 Ending balance, 70 units, 20% completed 765 All direct materials are added at the beginning of the process. The conversion cost per equivalent unit in the current period is about $ 2.75 $ 2.17 $2.50 $ 1.90