Garcia 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. September Transactions No. Transactions 1. Applications in process on September 1 are 100 2. Applications started in September are 1,000 3. Completed applications during September are 800 4. Applications still in process at September 30 were 100% complete as to materials (forms) and 60% complete as to conversion costs. Production and Manufacturing Costs Production Cost Cost Information Beginning WIP: Direct materials $1,400 Conversion costs $4,250 September Costs: Direct materials $4.760 Direct labor $12,680 Overhead $8.550 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. (Hint: Calculate Ending Inventory first.) . For units, they MUST be typed as a whole number, meaning it should NOT include any fractions or decimals. For example, if you answer is 100 units, you MUST type 100. Responses - Equivalent Units Materials Conversion Costs The Equivalent Units of Production Determine the unit costs of production. (Hint: Divide costs by the equivalent units calculated.) . Round unit costs to 2 decimal places, e.g. 2.25. . When typing your responses, do NOT include a dollar sign. Responses - Unit Costs Materials Conversion Costs Unit Costs $Prepare a cost reconciliation schedule. (Hint: You need to multiply equivalent units for each cost by its unit cost.) . Round your answer to 0 decimal places, e.g. 10,000. . When typing your responses, do NOT include a dollar sign. Responses - Manufacturing Costs Costs Accounted For: tA Transferred Out Work in Process, September 30 Materials $ Conversion Costs to Total Costs