Richards Corporation uses the weighted-average method of process costing. The following information is available for October in its Fabricating Department: Units: Beginning Inventory: 97,000 units, 70% complete as to materials and 25% complete as to conversion. Units started and completed: 284,000. Units completed and transferred out: 381,000. Ending Inventory: 38,500 units, 40% complete as to materials and 10% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $54,200. Costs in beginning Work in Process - Conversion: $96,700. Costs incurred in October - Direct Materials: $851,800. Costs incurred in October - Conversion: $1,026,020. Calculate the cost per equivalent unit of conversion.

Multiple Choice $267 $3.07 $3.55 $2.82 $2.92