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 47,500 units in the beginning work-in-process (WIP) inventory and 50% complete as to the 66,500 units in the ending work-in-process inventory. 95,000 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 $ 95,000 228,000 Materials Costs $28,500 52, 250 Conversion Costs $ 9,500 41, 800 VIP, 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: Multiple Choice O O $2.80. O $2.90. O $2.85. O O $2.75 O $2.95