Tamar Company manufactures a single product in two departments: Forming and Assembly. Information for the Forming process for May follows.

Units Direct Materials Conversion

Percent Complete Percent Complete

Beginning work in process inventory $5,250100\%40\%$

Units started this period $37,800$

Units completed and transferred out $38,850$

Ending work in process inventory $4,200100\%80\%$

Beginning work in process inventory

Direct materials $ $34,650$

Conversion $388,395$ $ $423,045$

Costs added this period

Direct materials $869,400$

Conversion $3,790,3954,659,795$

Total costs to account for $ $5,082,840$

Assume that Tamar uses the FIFO method of process costing. The units started and completed for may total $19,200.$

Required:

Prepare the Forming department$$s production cost report for May using FIFO.

Prepare the May $31$ journal entry to transfer the cost of units from forming to Assembly.