A company uses the FIFO method for inventory costing. During a period, a production department had 30,000 units in beginning goods in process inventory which were 45% complete; the department completed and transferred 170,000 units. At the end of the period, 27,000 units were in the ending goods in process inventory and are 80% complete. All of these are with respect to labor. The production department had labor costs in the beginning goods is process inventory of $104,000 and total labor costs added during the period are $726,950. Compute the equivalent cost per unit for labor.

$4.29

$4.34

$4.40

$4.08

$4.65