Answer:
Conversion cost per equivalent unit = $4.76
Explanation:
Conversion cost per equivalent unit = Total conversion cost / Equivalent units
Conversion cost is the sum of the direct labour cost and the factory overhead cost.  
Equivalent units are notional whole units which represent incomplete work and are used to apportion cost between work progress and completed work. These units are determined as follows:  
Equivalent units = Degree of work done(%) × units of inventory 
Equivalent units 
Item                            Unit                                            Equivalent unit
Completed unit         140,000         140000× 100%      140,000
Closing inventory      31,000             31,000× 30%        <u> 9,300</u>
Total equivalent unit                                                       <u>149,300</u>
Completed units = opening inventory + units started in the period - closing inventory
Completed units = 27000 + 114,000 - 31,000 = 140,000
The conversion cost = 50,850  + 601,150 = 652,000  
conversion cost per equivalent unit = 652,000 /140,000 = 4.65
Conversion cost per equivalent unit = $4.76