The following information applies to the questions displayed below) Tamar Co. manufactures a single product in one department All direct materials are added at the beginning of the manufacturing process Conversion costs are added evenly throughout the process. During May, the company completed and transferred 23,700 units of product to finished goods inventory, I 3.300 units of beginning work in process consisted of $20,000 of direct materials and $235.440 of conversion costs. It has 2,550 00% complete with respect to direct materials and 80% complete with respect to conversionin process at month-end. During the month $557400 of direct material costs and $2.137.640 of conversion costs were charged to production 300 points Hequired information 1. Prepare the company's process cost summary for May using the weighted average method Total costs to account for Cost of beginning work in process Costs incurred this period Total costs to account for 0 Total costs accounted for Difference due to rounding costunit 0 Unit reconciliation: Units to account for Beginning work in process inventory units Units started this period Total units to account for Total units accounted for Units completed and transferred out Ending work in process units Total units accounted for Equivalent units of production (EUP) weighted average method Materials EUP. Materials Conversion EUP Conversion Materials Comenio Costs EUP Costs EUP 0 0 Units completed and transferred out Ending work in processus Total Cost per equivalent unit of production Cost of beginning work in process Costs incurred this period Total costs Equivalent units of production Cost per equivalent unit of production Total concounted for Cost of units transferred out Direct materials Conversion Total cost transferred out Costs of ending work in process Derect madenas Coro Total cost of ending work in process LUP Cost per EUP Total cost FUP Total cost Coupe FUP $ O DO $ O DO D 2. Prepare the joumal entry dated May 31 to transfer the cost of completed units to finished goods inventory. (Do not found intermediate calculations. Round your final answer to the nearest whole dollar.) View transaction list View journal entry worksheet No Debit Credit Date May 31 1 General Journal Finished goods inventory Work in process inventory