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	5,100	100%	40%
Units started this period	36,720
Units completed and transferred out	37,740
Ending work in process inventory	4,080	100%	80%

Beginning work in process inventory
Direct materials	$ 33,660
Conversion	377,298	$ 410,958
Costs added this period
Direct materials	844,560
Conversion	3,682,098	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.