Evans Company uses the weighted-average method in its process costing system. During October, the Mixing Department transferred out 40,000 units. The October 31 work-in-process inventory in the Mixing Department consisted of 4,000 equivalent units of material and 5,000 equivalent units of labour and overhead. The cost per equivalent unit was $3.50 for materials and $6.25 for labour and overhead.

What was the total cost of the October 31 work-in-process inventory?

$45,250.

$41,250.

$43,750.

$78,750.