Ogden Co. manufactures a single product in one department. All direct materials are added at the begin ning of the manufacturing process Direct labor and overhead are added evenly throughout the process. The company monthly reporting periods for its average process cost accounting. During October, the company completed and transferred 22.200 units of product finished goods inventory. 3,000 units of beginning goods in process consisted of of direct s61.650 of labor. and $49.320 of factory S complete with respect to direct materials and complete with overhead. It has 2.400 units (100% process at month-end. After entries to record direct respect to direct labor and overhead) in count materials, direct labor, and overhead for October, the company's Goods in Process Inventory ac- follows. Goods in Process Inventory Acct. No. 133 Date Explanation Debit Credit Balance oet Balance 120,870 Direct materials 248,400 369,270 31 Direct labor 601,650 970,920 3 Applied overhead 481,320 452.240 Required 1. Prepare the company's process cost summary for October using the weighted-average method. 2. Prepare the joumal entry dated October 3 l to transfer the cost of completed units to finished goods inventory