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Required information [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 Units 4,200 30, 240 31,080 3,360 Required 1 Required 2 $ 27,720 310,716 695,520 3,032,316 Direct Materials Percent Complete 100% 100% Conversion Percent Complete 40% $ 338,436 3,727,836 $ 4,066,272 Complete this question by entering your answers in the tabs below. 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. 80% 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the Forming department's production cost report for May using the weighted average method. TAMAR COMPANY-Forming Department Production Cost Report - Weighted Average Method For Month Ended May 31 Unit reconciliation: Units to account for: Total units to account for Units accounted for: Total units accounted for Equivalent units of production (EUP) Caciulant | Imits of Deaduation Units Direct Materials % Complete EUP Conversion % Complete EUP ! Required information Total units accounted for Equivalent units of production (EUP) Equivalent Units of Production Cost per equivalent unit of production Total costs + Equivalent units of production Cost per equivalent unit of production Cost Assignment Completed and transferred out Direct materials Conversion Ending work in process Direct materials Conversion Total costs accounted for Units EUP Direct Materials % Complete $ Costs EUP Cost per EUP EUP Materials Total cost 0.00 $ 0.00 0 0 Conversion % Complete Costs EUP EUP Conversion 0 At the beginning of the year, Learer Company's manager estimated total direct labor cost to be $2,510,000. The manager also estimated the following overhead costs for the year. Indirect labor Rent on factory building Factory utilities Depreciation-Factory equipment Repairs expense-Factory equipment Indirect materials Total estimated overhead costs For the year, the company incurred $1,523,000 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 201, $605,000; Job 202, $564,000; Job 203, $299,000; Job 204, $717,000; and Job 205, $315,000. In addition, Job 206 is in process at the end of the year and had been charged $18,000 for direct labor. No jobs were in process at the beginning of the year. The company's predetermined overhead rate is based on a percent of direct labor cost. Complete this Required 1-a. Determine the predetermined overhead rate for the year. 1-b. Determine the overhead applied to each of the six jobs during the year. 1-c. Determine the over- or underapplied overhead at the year-end. 2. Prepare the entry to close any over- or underapplied overhead to Cost of Goods Sold at year-end. Req 1A $ 560,200 141,000 157,000 481,000 61,000 105,800 $ 1,506,000 Req 1B uestion by entering your answers in the tabs below. Req 1C Req 2 Determine the over- or underapplied overhead at the year-end. Factory Overhead Rent on factory building Factory utilities Depreciation-Factory equipment Repairs expense-Factory equipment Indirect materials. Total estimated overhead costs For the year, the company incurred $1,523,000 of actual overhead costs. It completed and sold five jobs with the following direct labor costs: Job 201, $605,000; Job 202, $564,000; Job 203, $299,000; Job 204, $717,000; and Job 205, $315,000. In addition, Job 206 is in process at the end of the year and had been charged $18,000 for direct labor. No jobs were in process at the beginning of the year. The company's predetermined overhead rate is based on a percent of direct labor cost. Required 1-a. Determine the predetermined overhead rate for the year. 1-b. Determine the overhead applied to each of the six jobs during the year. 1-c. Determine the over- or underapplied overhead at the year-end. 2. Prepare the entry to close any over- or underapplied overhead to Cost of Goods Sold at year-end. Req 1A 61,000 105,800 $ 1,506,000 Complete this question by entering your answers in the tabs below. Req 1B 141,000 157,000 481,000 Req 1C Req 2 Determine the over- or underapplied overhead at the year-end. Factory Overhead Req 1B Req 2

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