Sapphire Industries uses a process costing system. Direct materials are added at the beginning of the process, whereas conversion costs are incurred evenly throughout the process. Here are data for the month of October: Work in process inventory, beginning " - Units Direct material costs Conversion costs 25,200 units $32,000 $36,000 Direct materials added $384,100 Conversion costs incurred $390,725 Units started in production 122,500 units Units completed and transferred out 106,700 units Work in process inventory, ending 41,000 units The units in beginning work in process inventory are 50% complete with respect to conversion costs and the units in ending work in process inventory are 60% complete with respect to conversion costs. What is the cost per equivalent unit for conversion costs during the month of October? O $3.57 $3.25 $2.97 $2.88 O None of the above