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, $$31,030.$

b$.$ Materials requisitioned and factory labor used:

Job

Materials

Factory Labor

$301$ $$3,060$ $$2,710$

$3023,6403,820$

$3032,4301,870$

$3048,2807,010$

$3055,3405,100$

$3063,7903,170$

For general factory use $1,0604,260$

c$.$ Factory overhead costs incurred on account, $$5,290.$

d$.$ Depreciation of machinery and equipment, $$1,960.$

e$.$ The factory overhead rate is $$52$ per machine hour. Machine hours used:

Job Machine Hours

$30123$

$30237$

$30329$

$30470$

$30540$

$30623$

Total $222$

f$.$ Jobs completed: $301,302,303$ and $305.$

g$.$ Jobs were shipped and customers were billed as follows: Job $301,$ $$8,430$; Job $302,$ $$10,960$; Job $303,$ $$15,550.$

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.