Problem 20-3A Weighted average: Production cost report P2 P4 Tamar Co. manufactures a single product in two departments: Forming and Assembly. Information for the Forming process for May follows. \begin{tabular}{lccccc} & & & Direct Materials & & Conversion \\ \cline { 5 - 5 } & Units & & Percent Complete & & Percent Complete \\ Beginning work in process inventory & 3,000 & 100% & & 40% \\ Units started this period & 21,600 & & \\ Units completed and transferred out & 22,200 & & \\ Ending work in process inventory & 2,400 & 100% & & 80% \\ \hline \end{tabular} \begin{tabular}{lrlr} \hline Beginning work in process inventory & & \\ Direct materials & $19,800 & \\ Conversion & 221,940 & & \\ Costs added this period & & \\ Direct materials & 496,800 & \\ Conversion & 2,165,940 & 2,662,740 \\ Total costs to account for & & $2,904,480 \\ \hline \end{tabular} Required 1. Prepare the Forming department's production cost report for May using the weighted average method. 2. Prepare the May 31 journal entry to transfer the cost of units from Forming to Assembly