Fast Co. produces its product through a single processing department. Direct materials are added at the start of production, and conversion costs are added evenly throughout the process. The company uses monthly reporting periods for its weighted-average process costing system. The Work in Process Inevetory account has a balance of $85,300 as of October 1, which consists of $17,400 of direct materials and 67,900 of conversion costs.

rt B (Ch. 13) 6 Help Save & Fast Co. produc es its product through a single processing department. Direct materials are added at the start of production, and added evenly throughout the process. The company uses monthly reporting periods for its weighted-average process costing system. The Work in Process Inventory account has a balance of $85,300 as of October 1, which consists of $17,400 of direct materials and $67,900 of conversion costs During the month the company incurred the following costs: Direct materials Conversion 819,320 During October, the company started 141,000 units and transferred 151,000 units to finished goods. At the end of the month, the work in process inventory consisted of 20,500 units that were 80% complete with respect to conversion costs. Required 1. Prepare the company's process cost summary for October using the weighted-average methoo 2. Prepare the journal entry dated October 31 to transfer the cost of the completed units to finished goods inventory. Complete this question by entering your answers in the tabs below. Prepare the comp s process cost summary for October using the weighted-average method. (Round "Cost per EUP to 2 decimal