Fast Company produces its product through two processing departments: Cutting and Assembly. Information for the Cutting department follows. Beginning work in process inventory Units started this period Direct Materials Conversion Units 42,500 165,000 Percent Complete Percent Complete 175,000 32,500 100% 80% Units completed and transferred out Ending work in process inventory Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion $ 24,600 84,700 Total costs to account for Required: $ 109,300 203,650 1,020,800 1,224,450 $ 1,333,750 1. Prepare the Cutting department's production cost report for October using the weighted average method. 2. Prepare the October 31 journal entry to transfer the cost of completed units from cutting to Assembly. Prepare the October 31 journal entry to transfer the cost of completed units from cutting to Assembly. View transaction list Journal entry worksheet < Record the transfer of goods to next department. Note: Enter debits before credits. Date October 31 General Journal Debit Credit View general journal Record entry Clear entry