Overboard Corporation uses the FIFO method in its process costing system. In the Cutting Department in June, units were 80% complete with respect to conversion in the beginning work in process inventory and 25% complete with respect to conversion in the ending work in process inventory. Other data for the department for June follow: UnitsConversion CostBeginning work in process inventory20,000$29,000Units started into production, and costs incurred during the month150,000$217,000Units completed and transferred out130,000 The cost per equivalent unit for conversion cost is closest to:
A. $1.45
B. $1.51
C. $1.98
D. $1.75
Answer: D
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