Tamar Company manufactures a single product in two departments: Forming and Assembly. Information for the Forming...
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Tamar Company manufactures a single product in two departments: Forming and Assembly. Information for the Forming process for May follows. Direct Materials Conversion Units Percent Complete Percent Complete Beginning work in process inventory Units started this period 5,400 100% 40% 38,880 Units completed and transferred out Ending work in process inventory 39,960 4,320 100% 80% Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion $ 35,640 399,492 $ 435,132 894,240 3,898,692 4,792,932 Total costs to account for $ 5,228,064 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. Tamar Company manufactures a single product in two departments: Forming and Assembly. Information for the Forming process for May follows. Direct Materials Conversion Units Percent Complete Percent Complete Beginning work in process inventory Units started this period 5,400 100% 40% 38,880 Units completed and transferred out Ending work in process inventory 39,960 4,320 100% 80% Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion $ 35,640 399,492 $ 435,132 894,240 3,898,692 4,792,932 Total costs to account for $ 5,228,064 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.
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5408 3828043688 30980432035300 30980432035300 Since the completion for conversion costs in the endin... View the full answer
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