2. The Joan Company uses the process cost system and average cost method. The following production data are for the month of July, 20-- Production Costs $18,500 8,750 4,850 $ 32,100 Work in process, beginning of month: Materials Labor Factory overhead Costs incurred during month: Materials Labor Factory overhead Total $93,500 42, 450 33,550 169,500 $ 201,600 Production Report In process, beginning of month Finished and transferred during month Work in process, end of month Stage of completion Units 4,000 28,000 10,000 40% (a) Prepare a cost of production summary for the month. (b) Prepare the journal entries to record production for the month