Equivalent units of production (EUP) weighted average method
	Units	% Materials	EUP Materials	% Conversion	EUP Conversion
(Beg. goods in process inventory - units / total units accounted for / total units to accounted for / units completed & transferred out / units started this period) - Select 1
(Beg. goods in process inventory - units / total units accounted for / total units to accounted for / units completed & transferred out / units started this period) - Select 1
Total units
Cost per equivalent unit of production			Materials		Conversion
(Costs transferred out / costs incurred this period / costs of ending work in process / cost of beg. work in process) - Select 1
(Costs transferred out / costs incurred this period / costs of ending work in process / cost of beg. work in process) - Select 1
Total costs		Costs		Costs
Divide Equivalent units production		EUP		EUP
Cost per equivalent unit of production			Materials		Conversion
Total costs		Costs		Costs
Divide Equivalent units of Production		EUP		EUP
Cost per equivalent unit of production
Total costs accounted for:
Cos of units transferred out:	EUP	Cost per EUP	Total cost
Direct materials
Conversion
Total costs transferred out

Costs of ending WIP EUP Cost per EUP Total Cost

Direct materials _____ $ ______ ______

Conversion ______ $ _______ _______

Total cost of ending WIP

Total costs accounted for

Total costs to account for:
(Cost transferred out/costs incurred this period/cost of ending work in process/ cost of beg. work in process) - Select 1
(Cost transferred out/costs incured this period/cost of ending work in process/ cost of beg. work in process) - Selecet 1
Total costs accounted for:
Total costs accounted for:
Difference due to rounding costs/unit:
Unit reconciliation:
(Beg. work in pricess inventory - units / ending work in process units / units completed & trasnferred out / units started this period)
(Beg. work in pricess inventory - units / ending work in process units / units completed & trasnferred out / units started this period)
(extra row - ignore)
Total units to acount for:
Total units accounted for:
Units completed & transferred out
Ending Work in process - units
Total units accounted for:

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 25,200 units of product to finished goods inventory. Its 3,600 units of beginning work in process consisted of $20,400 of direct materials and $248,940 of conversion costs. It has 2,700 units (100% complete with respect to direct materials and 80% complete with respect to conversion) in process at month-end. During the month, $677,100 of direct material costs and $2,350,260 of conversion costs were charged to production.

1. Prepare the company's process cost summary for May usig the weighted- average method. (Charts before question)

2~

Prepare the journal entry dated May 31 to transfer the cost of completed units to finished goods inventory. (Do not round intermediate calculations. Round your final answer to the nearest whole dollar.)

Journal Entry Worksheet

• Record the transfer of goods to finished goods inventory.

Date General Journal debit Credit

May 31

thod