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Thank you will give a good review Required information [The following information applies to the questions displayed below.] Tamar Co. manufactures a single product in

Thank you will give a good review

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Required information [The following information applies to the questions displayed below.] Tamar Co. manufactures a single product in two departments. All direct materials are added at the beginning of the Forming process. Conversion costs are added evenly throughout the process. During May, the Forming department started 19,450 units and transferred 21,000 units of product to the Assembly department. Its 4,900 units of beginning work in process consisted of $21,700 of direct materials and $307,440 of conversion costs. It has 3,350 units (100% complete with respect to direct materials and 80% complete with respect to conversion) in process at month-end. During the month, $416,600 of direct materials costs and $1,823,760 of conversion costs were charged to the Forming department. 1. Prepare the Forming department's process cost summary for May using the weighted-average method. Total costs to account for: Costs of beginning work in process 329,140 Costs incurred this period 2,240,360 Total costs to account for: F $ 2,569,500 Total costs accounted for F 2,569,500 Difference due to rounding cost/unit F $ Unit reconciliation: Units to account for: Beginning work in process inventory - units 4,900 Units started this period 19,450 Total units to account for 24,350 Total units accounted for: Units completed and transferred out 21,000 Ending work in process - units 3,350 Total units accounted for F 24,350Equivalent units of production (EUP)- weighted average method Units Materials EUP- Materials % Conversion EUP- Conversion Units completed and transferred out Y 21,000 100% F 21,000 100% F 21,000 Ending work in process - units 3,350 100% F 3,350 80% F 2,680 Total units F 24,350 F 24,350 F 23,680 Cost per equivalent unit of production Materials Conversion Costs of beginning work in process $ 21,700 $ 307,440 Costs incurred this period 416,600 1,823,760 Total costs Costs $ 438,300 Costs F 2,131,200 + Equivalent units of production EUP 24,350 EUP 23,680 Cost per equivalent unit of production 18.00 F S 90.00 Total costs accounted for: Cost of units transferred out: EUP Cost per EUP Total cost Direct materials 21,000 $ 18.00 378,000 Conversion 21,000 $ 90.00 F 1,890,000 Total costs transferred out F $ 2,268,000 Costs of ending work in process EUP Cost per EUP Total cost Direct materials 3,350 18.00 F $ 60,300 Conversion 2,680 F $ 90.00 F 241,200 Total cost of ending work in process F 301,500 Total costs accounted for F 2,569,500c) Costs Added (increases) to Assembly department: The journal entry made in Q21 to transfer costs OUT of the first department - Forming and into the Assembly department are considered "Forming" category costs for purposes of process costing calculations for the second department- ASSEMBLY. Include the amount from your Q21 journal entry in the Assembly Column for the "Forming Costs" row in the table below. Use the direct material costs ADDED/Incurred to the first department to calculate BOTH the Packaging costs and Other DM costs added/incurred in the second department-Assembly (use the respective "factors". Costs Added/Incurred in WIP-Assembly Forming Cost Forming Costs Factor Assembly Cost Assembly Category (connect) (multiply) Category "transferred OUT" N/A Q21 JE Forming Direct Material Costs 378,000 1.20 Packaging Direct Material Costs 378,000 0.60 Other DM Conversion Costs 1,890,000 1.50 Conversion Total Costs Added/Incurred

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