Problem 20-3A Weighted Average: Process cost summary, equivalent units LO c2, c3, P4 Fast Co. produces i conversion costs are added evenly throughout the process. The company uses ts product through a single processing department. Direct materials are added at the start of production, and monthily reporting periods for its weighted-average process costing system. The Work in Process Inventory account has a balance of $86,300 as of October 1, which consists of $17,700 of direct materials and $68,600 of conversion costs. During the month the company incurred the following costs: Conversion 842,920 During October, the company started 142.000 units and transferred 152,000 units to finished goods. At the end of the month, the work in process inventory consisted of 21,000 units that were 80% complete with respect to conversion costs. Required 1. Prepare the company's process cost summary for October using the welghted-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 company's process cost summary for October using the weighted-average method. (Round "Cost per EUP" to 2 decimal Prey 10, 7ll Next> 20 3 5 8 the company's process cost summary for October using the welghted-average method. (Round "Cost per EUP" to 2 decimal places.) Total costs to account for Total costs accounted for Units to account for: Total units to account for Total units accounted for Total units accounted for s of product Units % Materials EuP, Materials %Conversion Total units Prey 1 of 7 Next > 3 4 5 7 8 0 Total units Total costs Costs Eaivalert units of producton EUP Cost of units transferred out Cost per Total cost EUP Direct materials Total costs transferred out Costs of ending work in process Cost per Total cost Direct materials Total oost of ending work in prooess Total costs accounted for Required 2> Prey 1of7 Next > 2 0 Required 2 the Journal entry dated October 31 to transfer the cost of the completed units to finished goods Inventory Journal entry worksheet Record the transfer of goods to finished goods inventory Nobe: Enter debits before credits. Oct 31 Record entry Clear entry View general journal Prey lof7 Next 0 888 a 3 4 5 0