Final answer:
The total cost of production for the third raincoat is $60.00, which, when combined with the costs of the previous raincoats and fixed cost, leads to a total production cost of $222.50 for three raincoats.
Step-by-step explanation:
The question asks to determine the total cost of production associated with the 3rd raincoat for Raincoat, Inc. Given the cost of the first raincoat is $55 and the second is $57.50, with incremental costs of $5, the pattern suggests that each additional raincoat costs $2.50 more than the previous. Thus, the third raincoat would cost $57.50 + $2.50 = $60.00. The total production cost for three raincoats would include the fixed cost of $50 plus the cumulative production costs of each raincoat ($55 + $57.50 + $60.00), resulting in a total of $222.50.