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Use these Inventory T-accounts for Tamar Co. for May as directed in the requirements below. Note - These T accounts will not be complete until you reach requirement 5c of the project. WIP-Forming WIP-Assembly Bal.5/1 $329,140 Bal. 5/1 $762,400 DM added Transferred- $416,600 $2,268,000 $2,268,000 CC added Units $1,823,760 transferred out Bal 5/31 $301,500 5/31 $3,030,400 Raw Material Inventory Finished Goods Inventory Bal 5/1 420,000 $416,000 Bal 5/1 -0- DM $200,000 Packaging $8,680 Other Dm Purchase(Squeeze) $554,680 Bal 5/31 350,000 Bal 5/31 -0-\\_4 1) Information for Second Department: The analysis you completed on connect for Tamar Co. relates to their FIRST department- Forming. We will use information from this department to calculate values for you to use in the SECOND department Assembly later in the project. 3) Units: Include the number of units in beginning and ending inventory for the Forming department in the table below Forming column. (These can be found in the paragraph of given information of Question 21 on HW3.1) . Multiply the units by the \"factors\" provided in the table to calculate the number of units for Assembly's beginning and ending inventory. Forming (connect) Factor (multiply) Assembly Beginning # of units 4,900 1.20 5,880 Endin # ofunits 3 350 0.80 2 680 b) Beginning Inventory Costs for Assembly: The assembly department will have 4 categories of costs for its process costing calculations; Forming Costs (transferred in from rst department), Packaging costs (one category of direct material, Other direct material (a 2nd category of direct material) and Conversion costs (category combining direct labor and overhead). For the cost in the Assembly department's beginning inventory, use the BEGINNING costs for direct material and conversion from the Formng department (connect) and the factors provided below to calculate the \"other direct materia \" and conversion costs in beginning inventory for Assembly department. Add all cost categories together for the \"Total Costs\". These amounts should be the beginning balance in the T accounts at the top of the project. Costs Forming Cost Formm rming Costs Factor Assembly Cost Assembly Category (connect) (multiply) Category _ -iven value Formin $400 000 __ given value Packaging 200,000 Direct Material Costs $21 700 0.40 Other DM $8 680 0.50 Conversion $153 720 Total Costs $329,140 $762,400 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. c) Costs Added (increases) to Assembly department: The journal entry made in Q21 to transfer costs OUT of the rst 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 rst department to calculate BOTH the Packaging costs and Other DM costs added/incurred in the second department-Assembly (use the respective \"factors\". m Cate 0 connect multi - 1 Cate ; o - I- -E_ Added/Incurred Note: This is your Check Point. You can text or email the tables above to Teri to insure you are headed in the correct direction. Your T accounts at the beginning of the Project will not be completed yet and therefore will not be veried with work in 1. 2) Accounting for added costs (journal entries and T accounts): Using the information on connect and above complete the following: a) Include May's beginning account balance for WIP-Forming and WIPAssembly (totals from table in 1b) in the T accounts at the top of the project. b) Raw material requests are made for direct material to the Forming Department, \"other direct material\" and \"Packaging\" for the Assembly Department. Write the journal entry to record the raw material requested and charged (added/incurred) to BOTH the departments during May. Note This can be written as one compound journal entry or as three separate journal entries (9; for each cost category) c) Assume the conversion costs (use amounts from lo) consists of 45% direct labor and the remainder is factory overhead. There is no indirect labor for Tamar Co. Write the journal entry to record the wages charged (addedfincurred) to BOTH departments in May