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Ottoson Fencing Inc. uses job order costing. The following data summarize the operations related to...

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Accounting

Ottoson Fencing Inc. uses job order costing. The following data summarize the operations related to production for December, the first month of operations:

a. Materials purchased on account, $28,610.
b. Materials requisitionedand factory labor used:
Job Materials Factory Labor
301 $2,810 $2,640
302 3,710 3,920
303 2,340 1,910
304 8,210 7,110
305 5,360 5,270
306 3,780 3,390
For general factory use 1,060 4,040
c. Factory overhead costs incurred on account, $5,710.
d. Depreciation of machinery and equipment, $1,910.
e. The factory overhead rate is $55 per machine hour. Machine hours used:
Job Machine Hours
301 24
302 36
303 29
304 73
305 41
306 24
Total 227
f. Jobs completed: 301, 302, 303 and 305.
g. Jobs were shipped and customers were billed as follows: Job 301, $8,520; Job 302, $10,770; Job 303, $15,650.
Answer Required:
1. Prepare a schedule of unfinished jobs to support the balance in the work in process account.

Please go into detail about how you do it so that I can learn. Thanks.

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