Need help with the following accounting problem.

Problem 20-3A Weighted Average: Process cost summary; equivalent units LO C2, C3, P4 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 $95,500 as of October 1, which consists of $20,100 of direct materials and $75,400 of conversion costs. During the month the company incurred the following costs: $ 192,650 Direct materials Conversion 1,040,600 During October, the company started 150,000 units and transferred 160,000 units to finished goods. At the end of the month, the worl in process inventory consisted of 25,000 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 method. 2. Prepare the journal entry dated October 31 to transfer the cost of the completed units to finished goods inventory. 1. Prepare the company's process cost summary for October using the weighted-average method. 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. Required 1 Required 2 Prepare the journal entry dated October 31 to transfer the cost of the completed units to finished goods inventory. View transaction list Journal entry worksheet Record the transfer of goods to finished goods inventory. Note: Enter debits before credits. Date General Journal Debit Credit Oct 31