(Answered) Question - the spangle company uses the process cost system

Accounting

Question - The Spangle Company uses the process cost system and average costing. The following prediction data are for the month of July:

Production Costs

Work in process, beginning of month

Materials $2,500

Labor $1,200

Factory Overhead $1,100 $4800

Costs incurred during the month

Materials $13,500

Labor 9,200

Factory overhead 8,500 $31,200

$36,000

Production Report Units UNITS

In process, beginning of month 500

Finished and transferred during the month 3,800

Work in process, end of month 400

Stage of completion 50%

Prepare a cost of production summary for the month.

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