The Lakeside Company uses a weighted-average process costing system. The following data are available:
| Beginning inventory |
-0- |
| Units started in production |
20,000 |
| Units finished during the period |
16,000 |
Units in process at the end of the period
(complete as to materials, ¼ complete as to conversion) |
4,000 |
| Cost of materials used |
$35,200 |
| Conversion costs |
$37,400 |
Unit cost of conversion is:
$2.34.
$2.20.
$1.97.
$1.87.