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 Percent Percent Units Complete Complete Beginning work in process inventory 5,190 Units started this period 36,728 Units completed and transferred out 37,740 Ending work in process inventory 4,080 Beginning work in process inventory Direct materials $ 33, 660 Conversion 377, 298 $ 410,958 Costs added this period Direct materials 844,563 Conversion 3, 682,398 4, 526, 658 Total costs to account for $ 4,937, 616 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.ReqJ red 1 Prepare the Forming department's production cost report for May using the weighted average method. TAMAR COMPANY-Forming Department Production Cost Report - Welghted Average Method For Month Ended May 31 Unit reconce ation: Units to account for: Total units to account for Units accounted for: Total units accounted for Equivalent units of production (BUP] Direct Materials Conversion Units %% Complete EUP %% Complete EUP Equivalent Units of Production Cost per equivalent unit of production Materials Conversion Total costs Costs Costs - Equivalent units of production EUP EUP Cost per equivalent unit of production Cost Assignment Completed and transferred out EUP Cost per EUP Total cost Direct materials Converalor [Ending work In process Direct materials 0 00 5 Conversion 0 00 Total costs accounted forRequired 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 Record the transfer of goods to next department. Note: Enter debits before credits. Date General Journal Debit Credit May 31