Chapter 4 Question 3 of 4 < Current Attempt in Progress - / 2.5 Sheridan Mortgage Company uses a process costing system to accumulate costs in its loan 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: Cost Chapter 4 Question 3 of 4 > -/2.5 E Applications in process on September 1.110 Beginning work in process: Direct materials $1,140 Applications started in Conversion costs 3,950 September, 1.160 September costs: Completed applications during Direct materials $6,480 September, 900 Direct labour 12,000 Applications still in process at September 30 were Overhead 10,978 100% complete in terms of materials (forms) and 60% complete in terms of conversion costs. Materials are the forms used in the application process, and these costs are incurred at the beginning of the process. Sonversion costs are incurred uniformly during the process. Calculate the unit costs and prepare a cost reconciliation schedule. Costs Unit costs Costs in September Equivalent units Unit costs Cost Reconciliation Schedule Costs to be accounted for Work in process inventory, September 1 Started into production Conversion Direct Materials Costs Tot Question 3 of 4 Cost Reconciliation Schedule Costs to be accounted for Work in process inventory, September 1 Started into production Total costs to be accounted for Costs accounted for Completed and transferred out Work in process inventory, September 30 Materials Conversion costs Total costs accounted for