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 $98,300 as of October 1, which consists of $21,300 of direct materials and $77,000 of conversion costs.

During the month the company incurred the following costs:

Direct materials	$	160,150
Conversion		813,880

During October, the company started 154,000 units and transferred 164,000 units to finished goods. At the end of the month, the work in process inventory consisted of 27,000 units that were 80% complete with respect to conversion costs. Required: 1. Prepare the companys 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 companys process cost summary for October using the weighted-average method. (Round "Cost per EUP" to 2 decimal places.)

Total costs to account for:
Costs of beginning work in process
Costs incurred this period
Total costs to account for:	$0
Total costs accounted for
Difference due to rounding cost/unit	$0
Unit reconciliation:
Units to account for:
Beginning work in process inventory - units
Units started this period
Total units to account for
Total units accounted for:
Units completed and transferred out
Ending work in process - units
Total units accounted for
Equivalent units of production (EUP)- weighted average method
	Units	% Materials	EUP- Materials	% Conversion	EUP-Conversion
Units completed and transferred out
Ending work in process - units
Total units
Cost per equivalent unit of production			Materials		Conversion
Cost of beginning work in process
Costs incurred this period
Total costs		Costs		Costs
Equivalent units of production		EUP		EUP
Cost per equivalent unit of production (rounded to 2 decimals)			0		0
Total costs accounted for:
Cost of units transferred out:	EUP	Cost per EUP	Total cost
Direct materials
Conversion
Total costs transferred out
Costs of ending work in process	EUP	Cost per EUP	Total cost
Direct materials		$0.00	$0
Conversion		$0.00	0
Total cost of ending work in process
Total costs accounted for

Record the transfer of goods to finished goods inventory.

Date	General Journal	Debit	Credit
Oct 31