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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 29,250 units and transferred 30,700 units of product to the Assembly department. Its 4,700 units of beginning work in process consisted of $21,500 of direct materials and $298,440 of conversion costs. It has 3,250 units (100% complete with respect to direct materials and 80% complete with respect to conversion) in process at month-end. During the month, $521,700 of direct materials costs and $3,031,560 of conversion costs were charged to the Forming department.1. Prepare the companys process cost summary for May using the weighted average method. Total costs to account for: Cost of

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1) Under weighted average method, equivalent units are to be calculated only for units completed & transferred out and unitsEUP - Weighted Average Method Whole Units Completed and transferred Ending work in process Equivalent Units of Production (EUCost of ending work-in-process EUP Totals Cost per EUP $16.00 $100.00 Materials Conversion Total cost of ending work-in-proce

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