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.	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.

Please go into detail on how to do it so that I can learn. Thanks.