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 4,650 100% Percent Percent Complete Complete 40% 33,480 Units completed and transferred out 34,410 Ending work in process inventory 3,720 100% Bex Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion $ 30,690 344,007 $ 374,697 770,040 3,357,207 4,127,247 Total costs to account for $ 4,501,944 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