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 23,000 units of product to finished goods inventory. Its 5,300 units of beginning work in process consisted of $17,200 of direct materials and $325,440 of conversion costs. It has 3,550 units (100% complete with respect to direct materials and 80% complete with respect to conversion) in process at month-end. During the month, $460,700 of direct material costs and $2,465,280 of conversion costs were charged to production.

1. Prepare the companys process cost summary for May using the weighted-average method.

Total costs to account for:
Total costs to account for:	$0
Total costs accounted for
Difference due to rounding cost/unit	$0
Unit reconciliation:
Units to account for:
Total units to account for
Total units accounted for:
Total units accounted for
Equivalent units of production (EUP)- weighted average method
	Units	% Materials	EUP- Materials	% Conversion	EUP- Conversion
Total units
Cost per equivalent unit of production			Materials		Conversion
Total costs		Costs		Costs
Equivalent units of production		EUP		EUP
Cost per equivalent unit of production			0		0
Total costs accounted for:
Cost of units transferred out:	EUP	Cost per EUP	Total cost
Direct materials
Conversion
Total costs transferred out
Costs of ending work in process	EUP	Cost per EUP	Total cost
Direct materials		$0.00	$0
Conversion		$0.00	0
Total cost of ending work in process
Total costs accounted for

2.prepare the journal entry dated May 31 to transfer the cost of completed units to finished goods inventory. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar.)

3.