Fast Co. produces its product through a single processing department. Direct materials are added at the start of production, and conversion costs are added evenly throughout the process. The company uses monthly reporting periods for its weighted-average process costing system. The Work in Process Inventory account has a balance of $83,300 as of October 1, which consists of $18,300 of direct materials and $70,000 of conversion costs. During the month the company incurred the following costs: Direct materials Conversion $131,300 890,960 During October, the company started 144,000 units and transferred 154,000 units to finished goods. At the end of the month, the work in process inventory consisted of 22,000 units that were 80% complete with respect to conversion costs. Required: 1. Prepare the company's process cost summary for October using the weighted-average method. 2. Prepare the journal entry dated October 31 to transfer the cost of the completed units to finished goods inventory. Prepare the company's process cast summary for October using the weighted-awerage method. (Round "Cast per ELD" to 2 dedinal To Total De and Units to account for Total units to Totalred for Toer Equivalent units of production (LP) -ighted average method Us Materials Eup. Materials Conversion EUR Conversion Cost per equivalent unit of production Materials Conversion EUP EUP Etuna of production Copertunt production order to decimals Total costs accounted for Cost of its edut EUP Directors Cost per EUP Towed out Counding working EUP Cost per EUP Total Conversion Total cost of ending work in process Tuled to 6 Journal entry worksheet Record the role to finished goods inventory General Journal Debit Credit Oct 31