Required information Problem 20-5AA FIFO: Process cost summary; equivalent units; cost estimates LO C3, C4, P4 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 28,800 units, and transferred 30,200 units of product to the Assembly department. Its 4,600 units of beginning work in process consisted of $95.900 of direct materials and $861.508 of conversion costs. It has 3.200 units (100% complete with respect to direct materials and 80% complete with respect to conversion) in process at month-end. During the month $642.240 of direct materials costs and $2.971.412 of conversion costs were charged to the Forming department. The following additional information is available for the Forming department - Beginning work in process consisted of 4,600 units that were 100% complete with respect to direct materials and 40% complete with respect to conversion Of the 30.200 units transferred out. 4.600 were from beginning work in process. The remaining 25,600 were units started and completed during May. Assume that Tamar uses the FIFO method to account for its process costing system Problem 20-5AA Part 1 Prebere the Forming department's process costumer for Mayung the FIA method. (Round "Cost per EUP to 2 decimal places) Per 3 f 45 Next > Seved resu,ZOU UNS u anistered uug4,000 were noi Degirmy WOIK I process. The remaining 20,000 were started and completed during May. Assume that Tamar uses the FIFO method to account for its process costing system. Problem 20-5AA Part 1 1. Prepare the Forming department's process cost summary for May using the FIFO method. (Round "Cost per EUP" to 2 decimal places.) Total costs to account for: Total costs to account for: Total costs accounted for Difference due to rounding costunit Unit reconciliation: Units to account for: Total units to account for Total units accounted for: Total units accounted for Required information Total units accounted for Equivalent units of production (EUP)- FIFO method Units % Materials EUP-Materials Conversion EUP. Conversion 01:41:37 apped Total units Cost per equivalent unit of production Materials Conversion Costs EUP E Costs UP Total costs - Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Total costs accounted for: Beginning Inventory Cost FUP Cost to complete beginning inventory Direct materials Conversion Total cost to complete beginning inventory Total cost of units in beginning inventory Cost per Total cost Type here to search o e G4 Lenovo lube Maps Logout est #3 Required information 43 Costs Costs EUP EUP points 2014126 Cost per Total cost Sipped Total costs +Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Total costs accounted for Beginning Inventory Cost: Cost to complete beginning inventory EUP Direct materials Conversion Total cost to complete beginning inventory Total cost of units in beginning inventory Cost of units started and completed EUP Direct materials Conversion Total cost of units started and completed Total cost of units transferred out Cost per EUP Total cost Cost per EUP Sub Total cost Costs of ending work in process Direct materials Conversion Total cost of ending work in process . Type here to search O e G