Problem 3-3A (Static) Weighted average: Production cost report LO P2, P4 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 Complete this question by entering your answers in the tabs below. Required 1 Required 2 4 TAMAR COMPANY-Forming Department Production Cost Report - Weighted Average Method For Month Ended May 31 Unit reconciliation: Units to account for: Beginning work in process inventory - units 3,000 Units started this period 21,600 Total units to account for 24,600 Total units accounted for: Units completed and transferred out 22,200 Ending work in process - units 2,400 Total units accounted for 24,600 Equivalent units of production (EUP)-weighted average method Required information Use the following information for the Problems below. (Static) [The following information applies to the questions displayed below.) Tamar Company manufactures a single product in two departments: Forming and Assembly. Information for the Forming process for May follows. Direct Materials Percent Complete 1000 Conversion Percent Complete 400 Units 3,000 21,600 22,200 2,400 1008 800 Beginning work in process inventory Units started this period Unite completed and transferred out Ending work in process inventory Beginning work in process inventory Direct materials Conversion Conte added this period Direet materials Conversion Total costs to account for 8.19,800 221, 940 $ 241,740 496,800 2,165,940 2,662,740 $ 2,904,480 Problem 3-3A (Static) Weighted average: Production cost report LO P2, P4 Required: 1. Prepare the Forming department's production cost report for May using the weighted average method. 2. Prepare the May 31 lournal entry to transfer the cost of units from formina to Assembly For Month Ended May 31 Unit reconciliation: Units to account for: Beginning work in process inventory units 3,000 Units started this period 21,600 Total units to account for 24,600 Total units accounted for: Units completed and transferred out 22 200 Ending work in process - units 2,400 Total units accounted for 24,600 Equivalent units of production (EUP)-weighted average method Units % Materials EUP-Materials % Conversion Total units to account for 3,000 100% 3,000 60% Units completed and transferred out 19,200 100% 19,200 100% Total units 22,200 22,200 Cost per equivalent unit of production Materials Costs of beginning work in process $ 496,800 Costs added this period Total costs Costs Costs + Equivalent units of production EUP 21,600 EUP Cost per equivalent unit of production $ 0.00 Cost Assignment Cost per EUP Conversion 1,800 19,200 21,000 Conversion $ 2,662,740 22,920 0.00 DA BE Prepare the May 31 journal entry to transfer the cost of units from forming to Assembly View transaction list Journal entry worksheet
