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Sparky Corporation uses the weighted-average method of process costing. The following information is available for February in its Molding department: Units Direct materials Percent Complete Conversion Percent CompleteBeginning work in process inventory 46,000 100% 60%Units started and completed 150,000 Units completed and transferred out 196,000 Ending work in process inventory 40,000 100% 25% Production cost information for the Molding department follows. Beginning work in process Direct materials $ 63,000 Conversion 68,850 $ 131,850Costs added this period Direct materials $ 420,600 Conversion 619,150 1,039,750 Calculate the cost per equivalent unit of conversion.
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