Fast Company produces its product through two processing departments: Cutting and Assembly. Information for the Cutting department follows. Direct Materials Conversion Percent Percent Units Complete Complete Beginning work in process inventory 32,500 Units started this period 145,000 Units completed and transferred out 155,000 Ending work in process inventory 22,500 100% 80% Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for $ 18,600 70,700 $ 89,300 141,150 915,400 1,056,550 $ 1,145,850 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