Answer:
$5.10
Explanation:
It is important to notice that the company uses the weighted-average method in its process costing system.
First, calculate the equivalent units of production with respect to conversion costs :
Conversion costs  : Equivalent Units
Ending Work In Process Inventory (19,600 × 40%)      7,840
Completed and Transferred Out (101,000 × 100%)    101,000
Equivalent units with respect to conversion costs    108,840
Next, calculate the total costs with respect to  conversion costs :
Conversion Costs  : Total Cost
Beginning Work In Process       $24,320
Costs Incurred during the period  $530,380
Total Conversion costs          $554,700
Next, calculate the cost per equivalent unit of conversion costs :
Conversion Cost : Cost per unit
Cost per equivalent = Total Costs / Total Equivalent Units
Therefore,
Cost per equivalent = $554,700 / 108,840
                 = $5.10