Problem 16-2A Woighted average: Production cost report P2P4 Fast Co. produces its product through two processing departments: Cutting and Assembly. Information for the Cutting department follows: Dequired 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. Check (i) Costs transferred out, s2 $2,500