Tamar Co. manufactures a single product in two departments. All direct materials are added at the beginning of the Forming process. Conversion costs are added evenly throughout the process. During May, the Forming department started 24.750 units and transferred 25,700 units of product to the Assembly department. Its 3,700 units of beginning work in process consisted of $20,500 of direct materials and $253,440 of conversion costs. It has 2,750 units (100% complete with respect to direct materials and 80% complete with respect to conversion) in process at month-end. During the month, $520,050 of direct materials costs and $2,424,960 of conversion costs were charged to the Forming department 1. Prepare the Forming department's process cost summary for May using the weighted average method. Total costs to account for: $ 0 Total costs to account for: Total costs accounted for Difference due to rounding cost/unit Unit reconciliation: Units to account for: $ 0 Total units to account for Total units accounted for: Total units accounted for Equivalent units of production (EUP)-weighted average method 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 Costs EUP Costs EUP 0 EUP Cost per EUP Total cost Total costs + Equivalent units of production Cost per equivalent unit of production Total costs accounted for Cost of units transferred out: Direct materials Conversion Total costs transferred out Costs of ending work in process Direct materials Conversion Total cost of ending work in process Total costs accounted for EUP Cost per EUP Total cost $ 0 0.00 $ 0.00 $ 0 Tamar Co. manufactures a single product in two departments. All direct materials are added at the beginning of the Forming process. Conversion costs are added evenly throughout the process. During May, the Forming department started 24,750 units and transferred 25,700 units of product to the Assembly department. Its 3.700 units of beginning work in process consisted of $20,500 of direct materials and $253,440 of conversion costs. It has 2,750 units (100% complete with respect to direct materials and 80% complete with respect to conversion) in process at month-end. During the month, $520,050 of direct materials costs and $2,424,960 of conversion costs were charged to the Forming department. 2. Prepare the journal entry dated May 31 to transfer the cost of units to Assembly. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar.) View transaction list Journal entry worksheet > Record the transfer of goods to next department. Note: Enter debits before credits Date General Journal May 31 Debit Credit
