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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	3,000	100%	40%
Units started this period	21,600
Units completed and transferred out	22,200
Ending work in process inventory	2,400	100%	80%

Beginning work in process inventory
Direct materials	$ 19,800
Conversion	221,940	$ 241,740
Costs added this period
Direct materials	496,800
Conversion	2,165,940	2,662,740
Total costs to account for		$ 2,904,480

Assume that Tamar uses the FIFO method of process costing. The units started and completed for may total 19,200.

Required:

1. Prepare the Forming departments production cost report for May using FIFO.
2. Prepare the May 31 journal entry to transfer the cost of units from forming to Assembly.