Assume a company uses the weight$-$average method in its process costing. Its Work in Process T$-$account for the Refining Department for August is:

Work in Process: Refining Department

Debit Credit

August $1$ balance $62,000$ Completed and transferred to Finished Goods $?$

Materials $310,000$

Direct labor $72,000$

Overhead $181,000$

August $31$ balance $?$

The August $1$ work in process inventory consisted of $6,000$ units with $$39,500$ in materials cost and $$22,500$ in conversion cost. The August $1$ work in process inventory was $100\%$ complete with respect to materials and $40\%$ complete with respect to conversion. During August $48,000$ units were started into production. The August $31$ work in process inventory consisted of $8,000$ units that were $100\%$ with respect to materials and $60\%$ complete with respect to conversion.

The cost per equivalent unit for materials is closest to:

Multiple Choice