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 0 tons Raw materials transferred to processing 35,000 tons Work-in-process, 4/30 (50% converted) 5,000 tons Cost data Raw materials transferred to processing $.440.000 Conversion costs Direct labor cost incurred 595,000 Manufacturing overhead applied 2 Materials 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: Conversion Total Units completed 30,000 X 30,000 X Plus equivalent unitsin ending inventory 5,000 3,000 Equivalent units in process 35,000 x 33,000 X Total cost to accounted for and cost per equivalent unit in process: Beginning work-in-process S 0 $ Current costs 440,000 1,520,000 X 1,960,000 x . Total cost in process 440,000 $ 1,520,000 X 5 1,960,000 x . Equivalent units in process 1,425,000 x 1.520,000 x S Cost per equivalent unit in process 12.57 x $ 16 X $ 28.57 X Accounting for total costs: Transferred out $ 857,100 x Ending work-in-process: Materials 62,850 X Conversion 48,000 x 110.850 X Total cost accounted for $ 967,950 X S G