Oriole 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.

Applications in process on September $1$:$200$

Applications started in September: $900$

Completed applications during September: $600$

Applications still in process at September $30$:$100\%$ complete as to materials $($forms$)$ and $60\%$ complete as to conversion

costs.

Beginning WIP:

Direct materials $$1,440$

Conversion costs $,4,580$

September costs:

Direct materials $$5,160$

Direct labor $,12,690$

Overhead $,6,760$

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

The equivalent units of service $($production$)$

Compute the unit cost. $($Round unit costs to $2$ decimal places, e$.$g$.2\mathrm{.}25.)$

Prepare a cost reconciliation schedule. $($Round unit costs to $2$ decimal places, e$.$g$.2\mathrm{.}25$ and final answers to $0$ decimal places, e$.$g$.$

$1,225.)$

Costs accounted for:

Transferred out

$

Work in process, September $30$

Materials

Conversion costs

Total costs

$