Hunter Corp. uses the weighted-average method of process costing. The following information is available for July in its Molding Department: Units: Beginning Inventory: 80,000 units, 70% complete as to materials and 30% complete as to conversion. Units started and completed: 250,000. Units completed and transferred out: 330,000. Ending Inventory: 30,000 units, 40% complete as to materials and 10% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $37,200. Costs in beginning Work in Process - Conversion: $79,700. Costs incurred in October - Direct Materials: $646,800. Costs incurred in October - Conversion: $919,300. Calculate the cost per equivalent unit of conversion.

$2.76

$3.68

$2.90

$3.00