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 regorting periods for es weighted average process costing system The Wor rk in Process Inventory account has a balance of $102.300 as of October 1, which consists of $22.500 of direct materials and $79,800 of conversion costs During the month the company incurred the following costs Direct materials Conversion $204,050 837,960 During October, the company started 158.000 units and transferred 168,000 units to finished goods. At the end of the month, the work consisted of 29,000 units that were 80% complete with respect to conversion costs. in process inventory 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 Complete this question by entering your answers in the tabs below. Prepare the company's process cost summary for October using the weighted-average method. (Round "Cost per EUP" to 2 places.) Required 1 Required 2 102 Costs Total costs to account for Total costs accounted for of beginning work in process 5 102.300