35 pos Fast Co produces its product through two processing departments Direct materials are added at the start of production in the Cutting department, and conversion costs are added evenly throughout each process. The company uses monthly reporting periods for its weighted average process costing system. The Work in Process Inventory Cutting account has a balance of 393,300 as of October 1, Which consists of 579,800 of direct materials and $73,500 of conversion costs During the north, the Cutting department incurred the following costs ook Direct materials Conversion $ 182,050 At the beginning of the month, 34,500 units were in process. During October, the company started 149.000 units and transferred 159.000 units to the Assembly department At the end of the month the Cutting department's work in process inventory consisted of 24500 units that were 80% complete with respect to conversion costs Required: 1. Prepare the Cutting department's process cout sommary for October using the weighted average method 2. Prepare the oumal entry dated October 31 to transfer the cost of the partially completed units to Assembly Complete this question by entering your answers in the tabs below. Tequired Pequired 2 Prepare the Cutting department process cost commary for October in the weighted average method. (Round out per Upto 2 decimal places.) Tot confort 5 0 Tetcost count Total for Dorunting O Units to account for M FRED mon.com. Eagle Amazon.com: AUKE. Official Website Free Online You nework U Total costs to account for Total costs accounted for Difference due to rounding cost/unit Unit reconciliation Units to account for: S 0 Total units to account for Total units accounted for Total units accounted for Equivalent units of production (EUP) weighted average method Units Materials EUP Materials % Conversion EUP Conversion Total units Cost per equivalent of production Materials Conversion Costs Costs EUP EUP o EUP Cost per FUP Total cost Total costs - Equivalent units of production Cost per equivalent unit of production Total costs accounted for Cost of units transferred out Direct material Conversion Total costs transferred out Costs of ending work in process Direct materiais Conversion Total cost of ending work in process EUP Cost per EUP Total cast $ 0.00 $ 5 000 0 0 Total units accounted for Equivalent units of production (EUP) weighted average method Units % Materials EUP Materials % Conversion EUP Conversion Total units Cost per equivalent unit of production Materials Conversion Costs Costs EUP EUP 0 EUP Cost per EUP Total cost Total costs + Equivalent units of production Cost per equivalent unit of production Total costs accorinted for Cost of units transferred out Direct materials Conversion Total cost transferred out Costs of ending work in process Direct materials Conversion Total cost of ending work in process Total costs accounted for EUP Cost per EUP Total cost $ 0.00 $ $ 0.00 0 0 Required 2 > 4 24,500 units that were 80% complete with respect to conversion costs. Required: 1. Prepare the Cutting department's process cost summary for October using the weighted average method 2. Prepare the joumal entry dated October 31 to transfer the cost of the partially completed units to Assembly ped Complete this question by entering your answers in the tabs below. Required 1 Required 2 etlook Prepare the journal entry dated October 31 to transfer the cost of the partially completed units to Assembly View transaction lit Journal entry worksheet