Required information Problem 03-4A Weighted average: Process cost summary, equivalent units, cost estimates LO C2, C3, P4 [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. Problem 03-4A Part 2

2. Prepare the journal entry dated May 31 to transfer the cost of units to Assembly. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar.)