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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, $28,580.
	b. Materials requisitioned and factory labor used:

Job	Materials	Factory Labor
301	$3,030	$2,760
302	3,490	3,770
303	2,520	1,860
304	8,290	6,880
305	5,000	5,490
306	3,890	3,410
For general factory use	1,130	4,190
		c. Factory overhead costs incurred on account, $5,670. d. Depreciation of machinery and equipment, $2,050. e. The factory overhead rate is $52 per machine hour. Machine hours used: Job Machine Hours 301 27 302 38 303 28 304 73 305 38 306 27 Total 231 f. Jobs completed: 301, 302, 303 and 305. g. Jobs were shipped and customers were billed as follows: Job 301, $8,340; Job 302, $10,880; Job 303, $15,310. Required: 1. Journalize the entries to record the summarized operations. Record each item (items a-f) as an individual entry on December 31. Record item g as 2 entries. 2. Post the appropriate entries to T accounts for Work in Process and Finished Goods, using the identifying letters as transaction codes. Insert memo account balances as of the end of the month. 3. Prepare a schedule of unfinished jobs to support the balance in the work in process account. 4. Prepare a schedule of completed jobs on hand to support the balance in the finished goods account.

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