Paxton Company uses the weighted-average method in its process costing system. The Molding Department is the second department in its production process. The data below summarize the department's operations in January: Units Percentage complete Beginning work in process inventory 3,000 80% Transferred in from the prior department during January 60,000 Completed and transferred to the next department during January 50,000 Ending work in process inventory 13,000 20% The accounting records indicate that the conversion cost that had been assigned to beginning work-in-process inventory was $10,973, and a total of $268,107 in conversion costs were incurred in the department during January. What was the cost per equivalent unit for conversion costs for January in the molding company? (Round off to three decimal places.)

Multiple Choice

$5.306

$5.038

$5.080

$4.704