Calculate the unit costs and prepare a cost reconciliation schedule.

Hi-Tech Mortgage Company uses a process costing system to accumulate costs in its loan application department. When an app cation is completed, it is forwarded to the loan department for final processing. The following processing and cost data pertain to 1. Applications in process on September 1, 120 Applications started in September, 1,190 Beginning work in process Direct materials Conversion costs $1,110 3,910 2. September costs: 3. Completed applications during Direct materials Direct labour Overhead $6,750 11,900 10,734 September, 800 Applications still in process at September 30 were 100% complete in terms of materials (forms) and 60% complete in terms of conversion costs. 4