-Tech Mortgage Company uses a process costing system to accumulate costs in its loan application department. When an application is completed, it is te 1. Applications in process on Beginning work in process September 1, 120 Direct materials $1,010 2 Applications started in Conversion costs 4,130 September, 1,150 September costs: 3. Completed applications during Direct materials $5,340 September, 910 Direct labeur 11,800 Applications still in process at September 30 were Overhead 11,094 100% complete in terms of materials (forms) and 60% complete in terms of conversion costa Materials are the forms used in the application process, and these costs are incurred at the beginning of the process. Conversion costs are incurred uniform Your answer is correct. Determine the equivalent units of service (production) for materials and conversion costs. Materials Conversion Costs Total equivalent units 1270 1126 SHOW SOLUTION LINK TO TEXT LINK TO TEXT (b) Calculate the unit costs and prepare a cost reconciliation schedule Costa Materiale Conversion Costs Total Unit costs Costs in September Equivalent units Unit costs Costs to be accounted for Work in process, September 1 Started into production Total costs Cost Reconciliation Schedule Costs accounted for Transferred out Work in process, September 30 Materials Conversion costs Total costs