Wildhorse 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: 1. Applications in process on Beginning work in process: September 1, 100 Direct materials $ 1,040 2. Applications started in Conversion costs 3,880 September, 1,050 September costs: 3. Completed applications during Direct materials $ 4,710 September, 940 Direct labour 11,900 4. Applications still in process at September 30 were Overhead 10.870 100% 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. Conversion costs are incurred uniformly during the process. (b) Calculate the unit costs and prepare a cost reconciliation schedule. Conversion Costs Costs Direct Materials Tots Unit costs Costs in September $ 5750 $ Equivalent units Unit costs $ $ $ Cost Reconciliation Schedule Costs to be accounted for Work in process inventory, September 1 $ Started into production Total costs to be accounted for $ 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 e Textbook and Media Save for Later Attempts: 0 of 3 used Submit