Paragraph Styles Daniel LLC incurred the following cost in themonth of Octoberl I Material $55,000 Labor $46,000 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 ofproduction summary for the month, assuming Daniel uses the average cost method of process costing. Daniel LLC Cost of Production Summary For the Month Ended October 31, 20- Cost of production for month: Materials Labor Factory Overhead Total cost to be accounted for Unit output for the month Finished during month Equivalent units of work in process, end of month Total equivalent production . Unit cost for month Material Labor Factory Overhead Total Inventory Costs: Cost of goods finished during month Cost of work in process, end of month: Material Labor Factory Overhead Total production cost accounted for