Qu Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory Materials costs Conversion costs Percent complete with respect to materials Percent complete with respect to conversion 900 $ 9,800 $ 9,200 553 303 Units started into production during the month Materials costs added during the month Conversion costs added during the montlh Ending work in process inventory: 8,400 $130,400 $220,600 Units in ending work in process inventory Percent complete with respect to materials Percent complete with respect to conversion 2,200 653 25% The cost per equivalent unit for conversion costs for the first department for the month is closest to: Multiple Choice $29.89 $34.07 $31.07 $31.38