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