Question

I need help finding the debit and credit amounts.

Check my work [The following information applies to the questions displayed below.] 14.28 points 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 21,600 units, and transferred 22,200 units of product to the Assembly department. Its 3,000 units of beginning work in process consisted of $19,800 of direct materials and $221,940 of conversion costs. It has 2,400 units (100% complete with respect to direct materials and 80% complete with respect to conversion) in process at month-end. During the month, $496,800 of direct materials costs and $2,165,940 of conversion costs were charged to the Forming department. eBook Print References . Prepare the journal entry dated May 31 to transfer the cost of units to Assembly View transaction list View journal entry worksheet No Debit Credit Date May 31 General Journal Work in process inventory-Assembly Work in process inventory-Forming

2. Prepare the journal entry dated May 31 to transfer the cost of units to Assembly.

Answer 1

Answer

• Journal entry

	Accounts title	Debit	Credit
May-31	Work in Process - Assembly	$               2,664,000.00
	Work In Process Inventory - Forming		$       2,664,000.00

• Working

EUP - Weighted Average Method	Units	% Material	EUP Materials	% Conversion	EUP - Conversion
Units TRANSFERRED	22,200	100%	22,200	100%	22,200
Units of ENDING WIP	2,400	100%	2,400	80%	1,920
Equivalent Units of Production			24,600		24,120
COST per EUP			Material		Conversion
Cost of Beginning WIP			$          19,800.00		$                                221,940.00
Cost incurred during the period			$        496,800.00		$                            2,165,940.00
Total Costs		Costs	$        516,600.00	Costs	$                            2,387,880.00
Equivalent units of production		EUP	24,600	EUP	24,120
Cost per EUP			$            21.00000		$                                   99.00000

Cost of Units Transferred Out	EUP	Cost per EUP	Total Cost
- Direct Materials	22,200	$                    21.00	$        466,200.00
- Conversion	22,200	$                    99.00	$    2,197,800.00
Total Cost transferred Out				$        2,664,000.00