-71 !!! Sheridan Mortgage Company uses a process cost system to accumulate costs in its Application Department. When an application is completed, it is forwarded to the Loan Department for final processing. The following processing and cost data pertain to September 1 2. Applications in process on September 1, 100 Applications started in September, 200 Completed applications during September, 700 Applications still in process at September 30 were 100% complete as to materials (forms) and 60% complete as to conversion 3. costs. Beginning WIP: Direct materials $1.120 Conversion costs 4,300 September costs: Direct materials $4,580 Direct labor 12.920 Overhead 5.836 Overhead 5,836 Materials are the forms used in the application process, and these costs are incurred at the beginning of the process. Conversion costs are incurred uniformly during the process, Determine the equivalent units of service (production) for materials and conversion costs. Materials Conversion Costs The equivalent units of service (production) e Textbook and Media Attempts: 0 of 4 used Submit Answer Save for Later