Bonita 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. Applications in process on September 1, 100 2. Applications started in September, 1,000 3. Completed applications during September, 800 4. Applications still in process at September 30 were 100% complete as to materials (forms) and 60% complete as to comversion costs. Beginning WIP: Direct materials Conversion costs $1,170 4,860 September costs: Direct materials Direct labor Overheacd $4,800 13,000 9,842 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. Bonita Mortgage Company uses the FIFO method. Also, assume that the applications in process on September 1 were 100% complete as to matenals (appicabon forms) and 40% complete as to conversion costs. Your answer is incorrect. Try again Determine the equivalent units of service (production) for materials and conversion costs. Materials Conversion Costs The equivalent units of service (production) 210 click if you would like to Show Work for this question: Open Show Work Your answer is incorrect. Try again. Compute the unit costs. (Round unit costs to 2 decimal places, e.g. 2.25.) Materials Conversion Costs Unit costs 5.97 29.47 Click if you would like to Show Work for this question: Open Show Work SHOW SOLUTION LINK TO TEXT (b2) Prepare a cost reconciliation schedule. (Round unit costs to 2 decimal places, e.g. 2.25 and final answers to 0 decimal places, e.g. 1,225.) Costs accounted for: Work in process, September 1 Started and completed Materials Total costs