Daniel LLC incurred the following cost in the month of October:
Factory Overhead $23,000
There was no beginning inventory. Ending work in process was 10,000 units at 50 percent complete. 15,000 units were completed and transferred out.
Prepare a cost of production summary for the month, assuming Daniel uses the average cost method of process costing.
The solution explains how to prepare a cost of production summary using the average cost method