N Saved Required Information (The following information applies to the questions displayed below.) Tamar Co. manufactures a single product in two departments. All direct materials are added at the beginning of the Forming process. Conversion costs are added evenly throughout the process. During May, the Forming department started 29.250 units and transferred 30,700 units of product to the Assembly department. Its 4,700 units of beginning work in process consisted of $21,500 of direct materials and $298,440 of conversion costs. It has 3.250 units (100% complete with respect to direct materials and 80% complete with respect to conversion) in process at month-end. During the month, $521700 of direct materials costs and $3,031,560 of conversion costs were charged to the Forming department 1. Prepare the Forming department's process cost summary for May using the weighted average method. L. Prepare the Forming department's process cost summary for May using the welghted average method. Answer is not complete. Total costs to account for. Costs of beginning work in process $333,440 Costs incurred this period 2,302,160 Total costs to account for: $ 2,635,600 Total costs accounted for Difference due to rounding cost/unit $ 0 Unit reconciliation Units to account for: Units started this period 5,100 Beginning work in process inventory - units 20,350 Total units to account for 25,450 Total units accounted for: Units completed and transferred out 22,000 Ending work in process - units 3,450 Total units accounted for 25,450 Equivalent units of production (EUP)- weighted average method % Units Materials Units completed and transferred out 22.000 100% Ending work in process - units 3.450 100% Total units 25,450 Cost per equivalent unit of production Costs incurred this period Costs of beginning work in process EUP Materials 22.000 3,450 25,450 Materials 96 Conversion 100% 80% og EUP Conversion 22.000 2.780 24,780 Conversion slo 1 EUP Materials 22,000 3,450 25,450 Materials % Conversion 100% 80% EUP- Conversion 22,000 2,780 24,780 Conversion o WUL OLUNUR. Units completed and transferred out 22,000 Ending work in process - units 3,450 Total units accounted for 25,450 Equivalent units of production (EUP) weighted average method % Units Materials Units completed and transferred out 22.000 100% Ending work in process - units 3,450 100% Total units 25,450 Cost per equivalent unit of production Costs incurred this period Costs of beginning work in process Total costs Costs + Equivalent units of production EUP Cost per equivalent unit of production Total costs accounted for: Cost of units transferred out: EUP EUP Direct materials Conversion Total costs transferred out EUP Costs of ending work in process Cost per EUP Direct materials $ 0.00 Conversion $ 0.00 Total cost of ending work in process Total costs accounted for Costs EUP 0 Cost per Total cost Total cost $ 0 0
