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

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Tamar Company manufactures a single product in two departments: Forming and Assembly. Information for the Forming process for May follows. Units Direct Materials Percent Complete Conversion Percent Beginning work in process inventory Units started this period 6,600 100% Complete 40% 47,520 Units completed and transferred out Ending work in process inventory 48,840 5,200 100% BOX Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for $ 43,560 488,268 $531,828 1,092,960 4,765,068 5,858,028 $ 6,389,856 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 1 Required 2 Prepare the Forming department's production cost report for May using FIFO. Note: Round "Cost per EUP" to 2 decimal places. Tamar Company manufactures a single product in two departments: Forming and Assembly. Information for the Forming process for May follows. Units Direct Materials Percent Complete Conversion Percent Beginning work in process inventory Units started this period 6,600 100% Complete 40% 47,520 Units completed and transferred out Ending work in process inventory 48,840 5,200 100% BOX Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for $ 43,560 488,268 $531,828 1,092,960 4,765,068 5,858,028 $ 6,389,856 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 1 Required 2 Prepare the Forming department's production cost report for May using FIFO. Note: Round "Cost per EUP" to 2 decimal places.