Required information Use the following information for the Problems below. (Static) [The following information applies to the questions displayed below] Tamar Company manufactures a single product in two departments: Forming and Assembly Information for the Forming process for May follows. Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for Direct Materials Conversion Units 3,000 Percent Complete 100% Percent Complete 40% 21,600 22,200 2,400 100% 80% $ 19,300 221,940 $241,740 496,300 2,165,940 2,662,740 $ 2,904,450 Problem 20-3A (Static) Weighted average: Production cost report LO P2, P4 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 Unit reconciliation: Units to account for: Production Cost Report-Weighted Average Method For Month Ended May 31 Beginning work in process inventory - units Units started this period Total units to account for 3,000 21,600 24,600 Units accounted for: Beginning work in process inventory-units 22,200 Units started this period 2,400 Total units accounted for 24,600 Equivalent units of production (EUP) Direct Materials Conversion Units % Complete EUP % Complete EUP Beginning goods in process inventory-units 3,000 0% 60% 1,800 Units started this period 19,200 100% 22,200 19,200 19,200 100% 19,200 21,000 Total units Cost per equivalent unit of production Materials Conversion Costs added this period. $ 496,800 S Cost of goods manufactured 2,165,940 22,920 Total costs Equivalent units of production. Cost per equivalent unit of production i Cost Assignment Completed and transferred out Costs EUP Costs $ 2,188,860 21,600 0.00 EUP EUP Cost per EUP Total cost Direct materials Conversion Ending work in process Direct materials Conversion Total costs accounted for S 0.00 $ S 0.00 + Required 1 Required 2 Prepare the May 31 journal entry to transfer the cost of units from Forming to Assembly. View transaction list View journal entry worksheet No Date General Journal May 31 Work in process inventory-Assembly Work in process inventory-Forming