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 $4,650100\%40\%$

Units started this period $33,480$ 

Units completed and transferred out $34,410$ 

Ending work in process inventory $3,720100\%80\%$

Beginning work in process inventory

Direct materials $ $30,690$ 

Conversion $344,007$ $ $374,697$

Costs added this period

Direct materials $770,040$ 

Conversion $3,357,2074,127,247$

Total costs to account for $ $4,501,944$

Problem $16-3$A $($Algo$)$ Weighted average: Production cost report LO P$2,$ P$4$

Required:

Prepare the Forming department$’$s production cost report for May using the weighted average method.

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