Weighted Average Method, Unit Cost, Valuation of Goods Transferred Out and Ending Work in Process Holmes Products, Inc., produces plastic cases used for video cameras. The product passes through three departments. For April, the following equivalent units schedule was prepared for the first department: Units completed Units, ending work in process x Percentage complete: 8,000 x 100% 8,000 50% Equivalent units of output Direct Materials Conversion Costs 27,000 - 27,000 8,000 4,000 35,000 31,000 Costs assigned to beginning work in process: direct materials, $80,000; conversion costs, $45,750. Manufacturing costs incurred during April: direct materials, $130,000; conversion costs, $210,000. Holmes uses the weighted average method. Required: 1. Compute the unit cost for April. If required, round your answer to the nearest cent. 13.25 X per equivalent unit 2. Determine the cost of ending work in process and the cost of goods transferred out. Cost of ending work in process Cost of goods transferred out Feedback 73,000 X 357,750 X Check My Work 1. The weighted average method counts prior-period work and costs in BWIP as if they belong to the current period; so the unit cost is obtained by dividing the sum of the costs in BWIP and the current-period costs by the weighted average equivalent output. The resulting unit cost is a blend of the prior-period unit cost and the actual current-period unit cost.