Ottoson Fencing Inc. uses job order costing. The following data summarize the operations related to production for December, the first month of operations: Materials purchased on account, $50,000. Materials requisitioned and factory labor used: Factory Job Materials Labor 301 $2,040 $2,755 302 3,470 7,945 303 2,425 5,890 304 1,980 2,640 305 4,655 6,850 306 1,950 3,190 For general factory use 1,320 5,500 Factory overhead costs incurred on account, $2,800. Depreciation of machinery and equipment, $3,500. The factory overhead rate is $45 per machine hour. Machine hours used: Job Machine Hours 301 35 302 65 SS303 45 304 70 305 80 306 45 Total hours 340 f. Jobs completed: 301, 302, 303, and 305. g. Jobs were shipped and customers were billed as follows: Job 301, $8,500; Job 302, $16,150; Job 303, $13,400. Instructions for each part. Journalize the entries to record the summarized operations. Letters (a to g) Post the appropriate entries to T accounts for Work in Process and Finished Goods using the identifying letters as transactions codes. Determine the account balances as of the end of the month. Prepare a schedule of unfinished jobs to support the balance in the work in process account. Prepare a schedule of completed jobs on hand to support the balance in the finished goods account.