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 $105,300 as of October 1 , which consists of $23,400 of direct materials and $81,900 of conversion costs. During the month, the Cutting department incurred the following costs: At the beginning of the month, 40,500 units were in process. During October, the company started 161,000 units and transferred 171,000 units to the Assembly department. At the end of the month, the Cutting department's work in process inventory consisted of 30,500 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 journal 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. Prepare the Cutting department's process cost summary for October using the weighted-average method. (Round "Cost per Eup" to 2 decimal places.) Journal entry worksheet Record the transfer of goods to next department. Note: Enter debits before credits