Tamar Company manufactures a single product in two departments: Forming and Assembly. Information for the Forming process for May follows. Units Beginning work in process inventory Units started this period 4,050 Direct Materials Percent Complete 100% Conversion Percent Complete 40% 29,160 Units completed and transferred out 29,970 Ending work in process inventory 3,240 100% 80% Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion $ 26,730 299,619 $ 326,349 670,680 2,924,019 3,594,699 Total costs to account for $ 3,921,048 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.