Sparky Corporation uses the FIFO method of process costing. The following information is available for February in its Molding Department:
Units:
Beginning Inventory: 42,000 units, 100% complete as to materials and 55% complete as to conversion
Units started and completed: 127,000.
Units completed and transferred out: 169,000.
Ending Inventory: 38,500 units, 100% complete as to materials and 25% complete as to conversion.
Costs:
Costs in beginning Work in Process - Direct Materials: $60,000.
Costs in beginning Work in Process - Conversion: $65,850.
Costs incurred in February - Direct Materials: $401,010.
Costs incurred in February - Conversion: $616,150.
Calculate the cost per equivalent unit of conversion.