The company uses the weighted-average method in its process costing system. The Packaging Department started the month with 210 units in process, started 1,470 units, and had 100 units in process at the end of the period. All materials are added at the beginning of the process, and conversion costs are incurred uniformly. The units in process at the end of the month are 30% complete with respect to conversion costs. During the month 1 comma 580 units were completed and transferred out. The department incurred the following costs: For conversion costs, the equivalent units of production are
Beginning WIP Added this month Total
Direct Materials $700 $3,400 $4,100
Conversion Costs 300 6,150 6,450
Total $1,000 $9,550 $10,550
The cost per equivalent unit for direct materials is? (Round your answer to two decimal places.)
a. $2.56
b. $7.30
c. $5.93
d. $2.30