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Cornerstones of Cost Management 2nd Edition by Don Hansen ,Maryanne Mowen
Edition 2ISBN: 978-1111824402Cornerstones of Cost Management 2nd Edition by Don Hansen ,Maryanne Mowen
Edition 2ISBN: 978-1111824402 Exercise 16
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:
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.
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.
Explanation
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Holmes products Inc. produces plastic ca...
Cornerstones of Cost Management 2nd Edition by Don Hansen ,Maryanne Mowen
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