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 Unite 30.500 141,000 151,000 20,500 1005 808 Deginning work in process inventory Direct materials Conversion costs added this period Direct materials Conversion Total costs to account for 5 17,400 67,900 $ 85,300 136,950 819,320 956,270 $1,041,570 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 Required 2 Prepare the Cutting department's production cost report for October using the welghted average method. (Round "Cost per EUP" to 2 de FAST COMPANY-Cutting Department Production Cost Report - Welghted Average Method For Month Ended October 31 Unit reconciliation: Units to account for: Units to account for Total units accounted for: Total units accounted for Equivalent units of production (EUP) Direct Materials Conversion Units % Complete EUP % Complete EUP Equivalent Units of Production Cost por equivalent unit of production Direct Materials Conversion hat Equivalent Units of Production Cost por equivalent unit of production Direct Materials Conversion Costs EUP Costs EUP 0 Total costs + Equivalent units of production Cost per equivalent unit of production Cost Assignment Completed and transferred out Direct materials Conversion EUP Cost per EUP Total cost Ending work in process Direct materials Conversion $ 0 0.00 $ 0.00 $ 0 Total costs accounted for Journal entry worksheet 1 > Record the transfer of goods to next department. Note: Enter debits before credits. General Journal Debit Credit Date October 31 Record entry Clear entry View general Journal