Cost of Production Report: No Beginning Inventories Howell Paving Company manufactures asphalt paving materials for highway construction through a one-step process in which all materials are added at the beginning of the process. During April, the company accumulated the following data in its process costing system: Production data Work-in-process, 4/1 Raw materials transferred to processing Work-in-process, 4/30 (60% converted] Cost cata 0 tons 35,000 tons 5,000 Raw materials transferred to processing Conversion costs $440,000 Direct labor cost incurred $95,000 Manufacturing overhead applied Manufacturing overhead is applied at the rate of $15 per equivalent unit (ton) processed. Prepare a cost of production report for April. Howell Paving Company Cost of Production Report For the Month Ending April 30 Equivalent units in process Units completed Materials 35,000 Conversion 35,000 Total Plus equivalent units in ending inventory Equivalent units in process 5.000 3,750x 40,000 23,750 x Total cost to accounted for and cost per equivalent unit in process: Beginning work-in-process Current casts Total cost in process Equivalent units in process Cost per equivalent unit in process $ $ 0 $ 440,000 0x 0 x $ 440 000 S 0 x $ 0x 0 x 0 x 0x3 0 x $ 0 Accounting for total costs Transferred out $ Ending work-in-process: Materials Conversion Total cost accounted for 0x 0x $ C