Holmes Products Inc produces plastic cases used for video cameras
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:
Costs assigned to beginning work in process: direct materials, $90,000; conversion costs, $33,750. Manufacturing costs incurred during April: direct materials, $75,000; conversion costs, $220,000. Holmes uses the weighted average method.
Required:
1. Compute the unit cost for April.
2. Determine the cost of ending work in process and the cost of goods transferred out.
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