Velasco Productions Has Provided the Following Information for the Year

Multiple Choice

Velasco Productions has provided the following information for the year: $$\begin{array} { | l | r | } \hline \text { Direct Labor } & \$ 150,000 \\\hline \text { Beginning Work-in-Process Inventory } & 63,000 \\\hline \text { Direct Materials Used } & 269,000 \\\hline \text { Ending Work-in-Process Inventory } & 52,900 \\\hline \text { Manufacturing Overhead } & 135,000 \\\hline\end{array}$$ During the year, Velasco produced 71,220 units of product. Calculate the unit product cost. (Round your answer to the nearest cent.)

A) $7.92
B) $6.77
C) $7.78
D) $8.66