5 Tamar Company manufactures a single product in two departments: Forming and Assembly. Information for the...

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5 Tamar Company manufactures a single product in two departments: Forming and Assembly. Information for the Forming process for May follows. 2 of 2 Units Beginning work in process 3,300 100% Direct Materials Conversion Percent Percent Complete Complete 40% inventory Units started this period 23,760 Units completed and transferred out 24,420 Ending work in process ok 2,640 100% 80% inventory Beginning work in process t inventory Direct materials $ 21,780 Conversion 244,134 $ 265,914 Costs added this period inces Direct materials Conversion 546,480 2,382,534 2,929,014 $ Total costs to account for 3,194,928 Assume that Tamar uses the FIFO method of process costing. The units started and completed for may total 19,200. Required: 1. Prepare the Forming department's production cost report for May using FIFO. 2. Prepare the May 31 journal entry to transfer the cost of units from forming to Assembly. Complete this question by entering your answers in the tabs below. Required Required 1 2 Prepare the Forming department's production cost report for May using FIFO. Note: Round "Cost per EUP" to 2 decimal places. TAMAR COMPANY-Forming Department Production Cost Report - FIFO Method For Month Ended May 31 Unit reconciliation: Units to account for: Total units to account for Units accounted for: Total units accounted for Equivalent units of production (EUP) Equivalent Units of Production Cost per equivalent unit of production + Equivalent units of production Direct Materials Conversion Units % Added EUP % Added EUP 0 EUP Direct Materials 0 EUP Conversion 0 5 Tamar Company manufactures a single product in two departments: Forming and Assembly. Information for the Forming process for May follows. 2 of 2 Units Beginning work in process 3,300 100% Direct Materials Conversion Percent Percent Complete Complete 40% inventory Units started this period 23,760 Units completed and transferred out 24,420 Ending work in process ok 2,640 100% 80% inventory Beginning work in process t inventory Direct materials $ 21,780 Conversion 244,134 $ 265,914 Costs added this period inces Direct materials Conversion 546,480 2,382,534 2,929,014 $ Total costs to account for 3,194,928 Assume that Tamar uses the FIFO method of process costing. The units started and completed for may total 19,200. Required: 1. Prepare the Forming department's production cost report for May using FIFO. 2. Prepare the May 31 journal entry to transfer the cost of units from forming to Assembly. Complete this question by entering your answers in the tabs below. Required Required 1 2 Prepare the Forming department's production cost report for May using FIFO. Note: Round "Cost per EUP" to 2 decimal places. TAMAR COMPANY-Forming Department Production Cost Report - FIFO Method For Month Ended May 31 Unit reconciliation: Units to account for: Total units to account for Units accounted for: Total units accounted for Equivalent units of production (EUP) Equivalent Units of Production Cost per equivalent unit of production + Equivalent units of production Direct Materials Conversion Units % Added EUP % Added EUP 0 EUP Direct Materials 0 EUP Conversion 0