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 Units Beginning work in process inventory Units started this period 4,950 Percent Percent Complete Complete 100% 40% 35,640 Units completed and transferred out Ending work in process inventory 36,630 3,960 100% 80% Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion $ 32,670 366,201 $ 398,871 819,720 3,573,801 4,393,521 Total costs to account for $ 4,792,392 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. TAMAR COMPANY-Forming Department Production Cost Report - Weighted Average Method For Month Ended May 31 Unit reconciliation: Units to account for: Beginning work in process inventory - units 4,950 Units started this period 35,640 Total units to account for 40,590 Units accounted for: Completed and transferred out 36,630 Ending work in process 3,960 Total units accounted for 40,590 Equivalent units of production (EUP) Direct Materials Conversion Units % Complete EUP % Complete EUP Completed and transferred out 36,630 100% 36,630 100% 36,630 Ending work in process 3,960 100% 3,960 80% 3,168 Equivalent Units of Production 40,590 40,590 39,798 Cost per equivalent unit of production Materials Conversion Costs of beginning work in process Costs added this period Total costs + Equivalent units of production Cost per equivalent unit of production Cost Assignment Costs EUP Completed and transferred out EUP Cost per EUP Total cost Direct materials Conversion Ending work in process Direct materials Conversion Total costs accounted for Costs EUP 0 0 $ FA 0.00 $ 0 $ 0.00 0 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. 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. Date May 31 General Journal Debit Credit Record entry Clear entry View general journal