1. 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:

   		Direct Materials				Conversion Costs
   Units completed			25,000				25,000
   Units, ending work in process Percentage complete:
   8,000 100%			8,000
   8,000 50%							4,000
   Equivalent units of output			33,000				29,000

   Costs assigned to beginning work in process: direct materials, $90,000; conversion costs, $29,250. Manufacturing costs incurred during April: direct materials, $75,000; 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. $ 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