Information about units processed and processing costs incurred during a recent month in the Refining Department of a manufacturing company follow: Conversion costs Number of Units percentage complete Beginning work in process inventory 11,000 35% Units started into production 120,000 Units completed and transferred out 114,000 Ending work in process inventory 17,000 30% The beginning work-in-process inventory included $11,000 of conversion cost. During the month, the Refining Department incurred an additional $290,000 in conversion costs. Assuming that the company uses the FIFO method, what is the cost per equivalent unit for conversion costs for the month in the refining Department, rounded to the nearest cent? Information about units processed and processing costs incurred during a recent month in the Refining Department of a manufacturing company follow: Beginning work in process inventory Units started into production Units completed and transferred out Ending work in process inventory Conversion costs Number of Units percentage complete 11,000 35% 120,000 114,000 17,000 30% The beginning work-in-process inventory included $11,000 of conversion cost. During the month, the Refining Department incurred an additional $290,000 in conversion costs. Assuming that the company uses the FIFO method, what is the cost per equivalent unit for conversion costs for the month in the refining Department, rounded to the nearest cent? $2.59. $2.54. $2.52