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Welghted Average Method, Unit Cost, Valuation of Goods Transferred Out and Ending Work in Process Holmes Products, Inc., produces plastic cases used for video cameras.

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Welghted 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 Apr, the following equivalent units schedule was prepared for the first departments Conversion Costs Direct Materials Units completed 25,000 25,000 Units, ending work in process Percentage complete 7,000 X 100% 7,000 32,000 7,000 > 50% 3,500 Equivalent units of output 28,500 Costs assigned to beginning work in process direct materials, $80,000; conversion costs, $15,125. Manufacturing costs incurred during April, direct materials, $113,000, conversion costs, 6220,000 Holmes uses the weighted average method Required: 1. Compute the unit cost for April. If required, round your answer to the nearest cent. por equivalent une 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

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