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.