Tamar Co. manufactures a single product in one department. All direct materials are added at the beginning of the manufacturing process. Conversion costs are added evenly throughout the process. During May, the company completed and transferred 32,700 units of product to finished goods inventory. Its 5,100 units of beginning work in process consisted of $198,960 of direct materials and $729,564 of conversion costs. It has 3,450 units (100% complete with respect to direct materials and 80% complete with respect to conversion) in process at month-end. During the month, $683,100 of direct material costs and $3,702,936 of conversion costs were charged to production. Beginning work in process consisted of 5,100 units that were 100% complete with respect to direct materials and 40% complete with respect to conversion. Of the 32,700 units completed, 5,100 were from beginning work in process. The remaining 27,600 were units started and completed during May. Assume that Tamar uses the FIFO method to account for its process costing system. Problem 16-5A Part 1 1. Prepare the companys process cost summary for May using the FIFO method. (Round "Cost per EUP" to 2 decimal places.) 2.)Prepare the journal entry dated May 31 to transfer the cost of completed units to finished goods inventory. *please show all parts*