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 Inventory account has a balance of $84,300 as of October 1, which consisted of $17,100 of direct materials and $67,200 of conversion costs.

During the month the company incurred the following costs:

Direct materials	$144,400
Conversion	862,400

During October, the company started 140,000 units and transferred 150,000 units to finished goods. At the end of the month, the work in process inventory consisted of 20,000 units that were 80% complete with respect to conversion costs.

Required:

1.

Prepare the companys process cost summary for October using the weighted-average method. (Round "Cost per EUP" to 2 decimal places.)

2.	Prepare the journal entry dated October 31 to transfer the cost of the completed units to finished goods inventory.