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 $109,300 as of October 1, which consists of $24,600 of direct materials and $84,700 of conversion costs. During the month, the Cutting department incurred the following costs:

Direct materials	$	203,650
Conversion		1,020,800

At the beginning of the month, 42,500 units were in process. During October, the company started 165,000 units and transferred 175,000 units to the Assembly department. At the end of the month, the Cutting department's work in process inventory consisted of 32,500 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.

Required Required Prepare the Cutting department's process cost summary for October using the weighted average method. (Round "Cost per EUP" to 2 decimal places.) Total costs to account for: Total costs to account for Total costs accounted for Difference due to rounding costunit Unit reconciliation: Units to account for: Total units to account for Total units accounted for: Total units accounted for Equivalent units of production (EUP)- weighted average method % EUP. % EUP. Units Materials Materials Conversion Conversion Total units Cost per equivalent unit of production Materials Conversion Costs EUP Costs EUP EUP Cost per Total cost Total costs Equivalent units of production Cost per equivalent unit of production Total costs accounted for: Cost of units transferred out Direct materials Conversion Total costs transferred out Costs of ending work in process Direct materials Conversion Total cost of ending work in process Total costs accounted for Cost per EUP Total cost EUP Total cost Required 2 > Required Required Prepare the journal entry dated October 31 to transfer the cost of the partially completed units to Assembly View transaction list Journal entry worksheet Record the transfer of goods to next department. Note: Enter debits before credits. Date General Journal Oct 31 Debit Credit Record entry View general journal Clear entry