Fast Company produces its product through two processing departments: Cutting and Assembly. Information for the Cutting department follows Direct Materials Percent Complete Conversion Percent Complete Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Units 38,500 157,000 167,000 28,500 100% 80X $ 22,200 79,100 $ 101,300 Beginning work in process inventory Direct materials Conversion Costs added this period Direct materials Corwersion Total costs to account for 192,850 B12,960 1,005,810 $ 1,107,110 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 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 Prepare the Cutting department's production cost report for October using the weighted average method. (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: Units to account for Total units to account for Total units accounted for Total units accounted for Completed and transferred out Direct Materials Conversion T 101 Completed and transferred out Direct Materials Conversion Units EUP EUP % Complete % Complete Total units Direct Materials Conversion Cost per equivalent unit of production ices Costs Costs EUP EUP EUP Cost per EUP Total cost Total costs - Equivalent units of production Cost per equivalent unit of production Cost Assignment Completed and transformed out DIO | | | | | | Conversion Total completed and transferred out Ending work in process Direct materials Conversion Total ending work in process Totalco accounted for 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 Debit Credit Date General Journal October 31 Record entry Clear entry View general Journal