Santana Mortgage Company uses a process costing 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, 150
2.		Applications started in September, 900
3.		Completed applications during September, 650
4.		Applications still in process at September 30 were 100% complete as to materials (forms) and 60% complete as to conversion costs.

Beginning WIP:
Direct materials		$1,410
Conversion costs		4,160
September costs:
Direct materials		$4,311
Direct labor		12,300
Overhead		8,251

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. Santana Mortgage Company uses the FIFO method. Also, assume that the applications in process on September 1 were 100% complete as to materials (forms) and 40% complete as to conversion costs.

Materials Conversion Costs The equivalent units of service (production) Compute the unit costs. (Round unit costs to 2 decimal places, e.g. 2.25.) Materials Conversion Costs Unit costss Prepare a cost reconciliation schedule. (Round unit costs to 2 decimal places, e.g. 2.25 and final answers to O decimal places, e.g. 1,225.) Costs accounted for: Applications completed Work in process, September 1 Started and completed Work in process, September 30 Materials Conversion costs Total costs