Required information

Skip to question

$[$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.

Units Direct Materials Conversion

Percent Complete Percent Complete

Beginning work in process inventory $3,000100\%40\%$

Units started this period $21,600$

Units completed and transferred out $22,200$

Ending work in process inventory $2,400100\%80\%$

Beginning work in process inventory

Direct materials $ $19,800$

Conversion $221,940$ $ $241,740$

Costs added this period

Direct materials $496,800$

Conversion $2,165,9402,662,740$

Total costs to account for $ $2,904,480$

Required:

Prepare the Forming department$$s production cost report for May using the weighted average method.

Prepare the May $31$ journal entry to transfer the cost of units from Forming to Assembly.