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 3,150 Percent Percent Complete Complete 100% 40% 22,680 Units completed and transferred out 23,310 Ending work in process inventory 2,520 100% 80% Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for $ 20,790 233,037 $ 253,827 521,640 2,274,237 2,795,877 $ 3,049,704 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.