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 Percent Complete Complete Beginning work in process inventory Units started this period 5,250 100% 40% 37,800 Units completed and transferred out 38,850 Ending work in process inventory 4,200 100% 80% Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials $ 34,650 388,395 $ 423,045 Conversion 869,400 3,790,395 4,659,795 Total costs to account for $ 5,082,840 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.