Problem 16-3A Weighted average: Production cost report P2 P4 Tamar Co. manufactures a single product in two departments: Forming and Assembly. Information for the Forming process for May follows. Direct Materials Conversion Beginning work in process inventory Beginning work in process inventory Units started this period. 3,000 100% Units Percent Complete Percent Complete 40% Direct materials Conversion. $ 19.800 221,940 $241,740 Costs added this period 21,600 Units completed and transferred out... Ending work in process inventory.... 22.200 Direct materials Conversion. 496,800 2,165,940 2,662,740 2,400 100% 80% Total costs to account for.... $2,904,480 Required 1. Prepare the Forming department's production cost report for May using the weighted average method. 2. Prepare the May 31 journal entry to transfer the cost of units from Forming to Assembly.