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. Units started this period Beginning work in process inventory Percent Percent Complete Complete 4,650 100% 40% Units completed and transferred out 33,480 Ending work in process inventory 34,410 3,720 100% 80% Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for $ 30,690 344,007 $374,697 770,040 3,357,207 4,127,247 $ 4,501,944 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.