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 3,750 Percent Complete 100% Percent Complete 40% 27,000 Units completed and transferred out 27,750 Ending work in process inventory 3,000 100% Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for $ 24,750 277,425 $302,175 621,000 2,707,425 3,328,425 $ 3,630,600 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 department's production cost report for May using FIFO. 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 Required information Required 1 Required 2 Prepare the Forming department's production cost report for May using FIFO. (Round "Cost per EUP" to 2 decimal places.) TAMAR COMPANY-Forming Department Production Cost Report-FIFO Method For Month Ended May 31 Unit reconciliation: Units to account for Beginning work in process 3,750 Units started this period 27,000 Total units to account for 30,750 Units accounted for: Units started and completed Ending work in process 27,750 3,000 Total units accounted for Equivalent units of production (EUP) Direct Materials Conversion Units % Added EUP % Added EUP Units completed and transferred out 27,750 100% 27,750 100% 27,750 Units started and completed this period 3,000 100% 3,000 80% 2,400 Ending work in process 30,750 0% 98% 30,135 Equivalent Units of Production 30,750 60,285 Cost per equivalent unit of production Direct Materials EUP Conversion 0 EUP 60,285 0 $ 0.00 Equivalent units of production Cost per equivalent unit of production Cost Assignment Beginning work in process To complete beginning work in process Direct materials EUP Cost per EUP Total cost AT YEAR ASEAF Required information Equivalent Units of Production Cost per equivalent unit of production Equivalent units of production: Cost per equivalent unit of production 30,750 EUP Direct Materials 60,285 Conversion 0 EUP 60,285 0 $ 0.00 Cost Assignment Beginning work in process To complete beginning work in process EUP Cost per EUP Total cost Direct materials $ 0 Conversion Started and completed Direct materials Conversion Completed and transferred out Ending work in process Direct materials Conversion Total costs accounted for EUP Cost per EUP Total cost $ 0 $ 0.00 EUP Cost per EUP Total cost $ 0.00 $ 0 $ 0.00 0 Required 1 Required 2 Prepare the May 31 journal entry to transfer the cost of units from forming to Assembly. (Do not round intermediate calculations. Enter your answers rounded to the nearest whole dollars.) View transaction fist 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 27