Fast Company produces its product through two processing departments: Cutting and Assembly. Information for the Cutting department follows.

	Units	Direct Materials	Conversion
		Percent Complete	Percent Complete
Beginning work in process inventory	30,000
Units started this period	140,000
Units completed and transferred out	150,000
Ending work in process inventory	20,000	100%	80%

Beginning work in process inventory
Direct materials	$ 17,100
Conversion	67,200	$ 84,300
Costs added this period
Direct materials	144,400
Conversion	862,400	1,006,800
Total costs to account for		$ 1,091,100

Required: 1. Prepare the Cutting departments 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.