P5. 34 Weighted average process costing: manufacturer

Tringle Zipper Company accumulates costs for its single product using process costing. Direct materials is added at the beginning of the production process and conversion activity occurs uniformity throughout the process. A partially completed production repost for May follows.

Production report, May
	Physical units	Percentage of completion with respect to conversion 40%		Equivalent units
			Direct materials	Conversion
Work in process, 1 May	25000	40%
Units started during May	30000
	55000
Units completed and transferred out during May	35000		35000	35000
Work in Process, 31 May	20000	80%
Total units accounted for	55000
		Direct Materials	Conversions	Total
Work in process, 1 May		$143,000	$474,700	$617,700
Costs incurred during May		165000	2009000	2174000
Total costs to account for		$308,000	$2,583,700	$2,791,700

Required

Prepare a journal entry to record the transfer of the cost of goods completed and transferred out during May