Tamar Company manufactures a single product in two departments: Forming and Assembly. Information for the Forming process for May follows. Units Direct Materials Percent Complete Conversion Beginning work in process inventory Units started this period 3,000 100% Percent Complete 40% 21,600 Units completed and transferred out 22,200 Ending work in process inventory 2,400 100% 80% Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion $ 19,800 221,940 $ 241,740 496,800 2,165,940 2,662,740 Total costs to account for $ 2,904,480 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.