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 5,000 units in the beginning work-in-process MIP) inventory and 50% complete as to the 7,000 units in the ending work-in-process inventory. 10,000 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: points ransferred- in Costs 10,000 24,000 Materials Conversion Costs $1,000 4,400 Costs $3,000 5,500 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: 28 Multiple Choice $2.75 5 points $2.90 $2.95. $2.80 $2.85