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 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 Total costs to account for Direct Materials Conversion Percent Percent Complete Complete Units 30,000 140,000 150,000 20,000 100% 80% $ 17,100 67,200 $ 84,300 144,400 862,400 1,006,800 $ 1,091,100 Required: 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 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Unit reconciliation: Units to account for: Units to account for Total units accounted for: Total units accounted for Equivalent units of production (EUP) Equivalent Units of Production Cost per equivalent unit of production Total costs Equivalent units of production Cost per equivalent unit of production: Cost Assignment. FAST COMPANY-Cutting Department Production Cost Report - Weighted Average Method For Month Ended October 31 + Direct Materials Conversion Units % Complete EUP % Complete Direct Materials EUP 150,000 Conversion Costs Costs EUP EUP 0 0 Cost per equivalent unit of production Total costs + Equivalent units of production Cost per equivalent unit of production Cost Assignment Completed and transferred out Direct materials Conversion Ending work in process Direct materials Conversion Total costs accounted for Direct Materials Conversion Costs EUP Costs EUP 0 0 EUP Cost per EUP Total cost + $ 0.00 $ 0 $ 0.00 0 Required 1 Required 2 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 + Record entry Clear entry View general Journal