! Required information [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 Conversion Percent Units Percent Complete 100% Beginning work in process inventory Units started this period Complete 40% 4,200 30,240 Units completed and transferred out Ending work in process inventory 31,080 3,360 100% 80% Beginning work in process inventory Direct materials $ 27,720 Conversion 310,716 $ 338,436 Costs added this period Direct materials 695,520 Conversion 3,032,316 3,727,836 $4,066,272 Total costs to account for 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. Prepare the Forming department's production cost report for May using the weighted average method. TAMAR COMPANY-Forming Department Production Cost Report - Weighted Average Method For Month Ended May 31 Unit reconciliation: Units to account for: Direct Materials Conversion Units EUP Materials Total units to account for Units accounted for: Total units accounted for Equivalent units of production (EUP) Equivalent Units of Production Cost per equivalent unit of production Total costs + Equivalent units of production Cost per equivalent unit of production Cost Assignment Completed and transferred out Direct materials Conversion Ending work in process Direct materials Conversion Total costs accounted for EUP % Complete Costs EUP Cost per EUP Required 4 Total cost Required 2 > % Complete Costs EUP EUP Conversion Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the May 31 journal entry to transfer the cost of units from Forming to Assembly. View transaction list Journal entry worksheet 1 Record the transfer of goods to next department. Note: Enter debits before credits. General Journal Credit Date May 31 Clear entry View general journal Required 2 Record entry