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O'Leary Company manufactures Product Z in a two-stage production cycle in Departments A and B. Materials are added at the beginning of the process in Department B. O'Leary uses the weighted-average method. Conversion costs for Department B were 40% complete as to the 17,500 units in the beginning work-in-process (WIP) inventory and 50% complete as to the 24,500 units in the ending work-in-process inventory. 35,000 units were completed and transferred out of Department B during October. An analysis of the costs relating to work-in-process inventories and production activity in Department B for October follows: Transferred- in Costs $ 35,000 84,000 Materials Costs $ 10,500 19,250 Conversion Costs $ 3,500 15,400 WIP, October 1: Costs added in October The total cost per equivalent unit transferred-out for October of Product Z, rounded to the nearest penny, was: $2.80. (0) $2.85. (0) $2.90. $2.75. $2.95