Fast Company produces its product through two processing departments: Cutting and Assembly. Information for the Cutting department follows. 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. Prepare the Cutting department's production cost report for October using the weighted average method. Note: Round "Cost per EUP" to 2 decimal places. FAST COMPANY-Cutting Department Production Cost Report - Weighted Average Method For Month Ended October 31 Unit reconciliation: \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{6}{|l|}{ Units to account for: } \\ \hline ? & & & & & \\ \hline & & & & & \\ \hline \multicolumn{6}{|l|}{ Units to account for } \\ \hline \multicolumn{6}{|l|}{ Total units accounted for: } \\ \hline \\ \hline \multicolumn{6}{|l|}{P} \\ \hline \multicolumn{6}{|l|}{ Total units accounted for } \\ \hline \multicolumn{6}{|l|}{ Equivalent units of production (EUP) } \\ \hline & & \multicolumn{2}{|c|}{ Direct Materials } & \multicolumn{2}{|c|}{ Conversion } \\ \hline & Units & % Complete & EUP & % Complete & EUP \\ \hline & & & & & \\ \hline & & & & & \\ \hline \multicolumn{6}{|l|}{ Equivalent Units of Production } \\ \hline Cost per equivalent unit of production & & & Direct Materials & & Conversion \\ \hline \multicolumn{6}{|l|}{p} \\ \hline \multicolumn{6}{|l|}{7} \\ \hline Total costs & & Costs & & Costs & \\ \hline Equivalent units of production & & EUP & 7 & EUP & \\ \hline \multicolumn{6}{|l|}{ Cost per equivalent unit of production } \\ \hline \multicolumn{6}{|l|}{ Cost Assignment } \\ \hline Completed and transferred out & EUP & Cost per EUP & \multicolumn{2}{|c|}{ Total cost } & \\ \hline \multicolumn{6}{|l|}{ Direct materials } \\ \hline \multicolumn{6}{|l|}{ Conversion } \\ \hline \multicolumn{6}{|l|}{ Ending work in process } \\ \hline \multicolumn{6}{|l|}{ Direct materials } \\ \hline \multicolumn{6}{|l|}{ Conversion } \\ \hline Total costs accounted for & & & & & \\ \hline \end{tabular} Journal entry worksheet Record the transfer of goods to next department. Note: Enter debits before credits