ll Sprint 10:14 PM 51% i X Chapter 03 - Assignment Hele I Exercise 3-16 Santana 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 1. Applications in process on September 1, 200 Applications started in September, 900 . Completed applications during September, 600 pplications still in process at September 30 were 100% complete as to materials (forms) and 60% complete as to conversion costs. Beginning WIp: Direct materials $1.300 4,760 September costs 12,200 7,644 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 (application forms) and 40% complete as to conversion costs. Your answer is partially correct. Try again. Determine the equivalent units of service (production) for materials and conversion costs. The equivalent units of service (preduction) Your answer is incorrect. Try again