To answer next 4 questions that require process costing work, refer to the following information (this same data will appear on each screen of subsequent questions!):

During August, the following activities and cost flows were recorded for the first production department of a company that uses the FIFO method for its product costing purpose:

a. Beginning WIP had 800 units, 70% complete with respect to materials and 50% complete with respect to conversion. Costs in the beginning WIP included material costs of $4,900 and conversion costs of $2,300.

b. During August, 9,600 units were started in process. Costs added during the period were materials, $67,000; and conversion, $38,720.

c. At the end of August, total 10,000 units were completed and transferred-out to the next department. The remaining ending WIP was 40% complete with respect to materials and 20% complete with respect to conversion.

What is the cost-per-equivalent unit which includes both materials and conversion costs (Choose the closest value to your answer)?

A) $11.00

B) $10.88

C) $11.17

D) $11.75