Required information 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 22,050 units, and transferred 22,700 units of product to the Assembly department Its 3,100 units of beginning work in process consisted of $75,780 of direct materials and $406,970 of conversion costs It has 2,450 units (100 complete with respect to direct materials and 80 complete with respect to conversion) in process at month end During the month, $467,460 of direct materials costs and $2,330,290 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 3,100 units that were 100 complete with respect to direct materials and 40 complete with respect to conversion Of the 22,700 units transferred out, 3,100 were from beginning work in process The remaining 19,600 were units started and completed during May Assume that Tamar uses the FIFO method to account for its process costing system 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 cost unit Unit reconciliation Units to account for Total units to account for Total units accounted for Total units accounted for Equivalent units of production (EUP) FIFO method Units Materials EUP Materials Conversion EUP Conversion Total units Cost per equivalent unit of production Materials Conversion Costs EUP Costs EUP Cost per EUP Total cost 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 EUP Cost per EUP Total cost Costs of ending work in process Direct materials Conversion Total cost of ending work in process Total costs accounted for

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Required information [The following information applies to the questions displayed below.] Tamar Co. manufactures a single product in two departments. All direct materials are added

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[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 22,050 units, and transferred 22,700 units of product to the Assembly department. Its 3,100 units of beginning work in process consisted of $75,780 of direct materials and $406,970 of conversion costs. It has 2,450 units (100% complete with respect to direct materials and 80% complete with respect to conversion) in process at month-end. During the month, $467,460 of direct materials costs and $2,330,290 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 3,100 units that were 100% complete with respect to direct materials and 40% complete with respect to conversion.
Of the 22,700 units transferred out, 3,100 were from beginning work in process. The remaining 19,600 were units started and completed during May.

Assume that Tamar uses the FIFO method to account for its process costing system.

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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 cost/unit Unit reconciliation: Units to account for: Total units to account for Total units accounted for: Total units accounted for Equivalent units of production (EUP)- FIFO method Units % Materials EUP- Materials % Conversion EUP- Conversion Total units Cost per equivalent unit of production Materials Conversion Costs EUP Costs EUP Cost per EUP Total cost 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 EUP Cost per EUP Total cost Costs of ending work in process Direct materials Conversion Total cost of ending work in process Total costs accounted for