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Problem 20-2A (Algo) Weighted Average: Production cost report LO P2, P4 Fast Company produces its product through two processing departments: Cutting and Assembly, Information for the Cutting department follows: Direct Materials Percent Complete Conversion Percent Complete Units 36,500 153,000 163,000 26,500 1000 004 Beginning work in process inventory Units started this period Units completed and transferred out Ending work in proces inventory Deginning work in procena inventory Direct materials Conversion Costa added thin period Direct materials Conversion Total costs to account for $ 21,000 27.100 $ 98,100 149,550 1,120,200 1.269 250 $ 1,367,850 Required: 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. Required 1 Required 2 Prepare the Cutting department's production cost report for October using the weighted average method. (Round "Cost per EUP to 2 decimal places.) FAST COMPANY-Cutting Department Production Cost Report - Welghted Average Method For Month Ended October 31 Unit reconciliation: Units to account for: Total units to account for Total units accounted for: Total units accounted for Completed and transferred out Direct Materials Conversion Units * Complete EUP % Complete EUP Total units Direct Materials Conversion Cost per equivalent unit of production Diroot Matorials Convorsion Units EUP EUP % Completo % Complete Total units Conversion Cost per equivalent unit of production Direct Materials Costs EUP Costs EUP EUP Cost per EUP Total cost Total costs - Equivalent units of production Cost per equivalent unit of production Cost Assignment Completed and transferred out Direct materials Conversion Total completed and transferred out Ending work in process Direct materials Conversion Total ending work in process Total costs accounted for Required Required 2 > Journal entry worksheet Record the transfer of goods to next department. Note: Enter debits before credits. General Journal Debit Credit Date October 31 Record entry Clear entry View general Journal