1 The Polaris Company uses a job-order costing system. The following transactions occurred in October a. Raw materials purchased on account, $211,000. b. Raw materials used in production, $191,000 ($152,800 ydirect materials and $38,200 indirect materials). c. Accrued direct labor cost of $49,000 and indirect labof cost of $22,000. d. Depreciation recorded on factory equipment, $105,000. e. Other manufacturing overhead costs accrued during October $131,000. f. The company applies manufacturing overhead cost to production using a predetermined rate of $9 per machine-hour. A total of 76,400 machine-hours were used in October g. Jobs costing $511,000 according to their job cost sheets were completed during October and transferred to Finished Goods. h. Jobs that had cost $450,000 to complete according to their job cost sheets were shipped to customers during the month. These Jobs were sold on account at 26% above cost. Required: 1. Prepare journal entries to record the transactions given above. 2. Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant transactions from above to each account Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $35,000. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant transactions from above to each account. Compute the balance in each account, assuming that Work in Process has a beginning balance of $35,000. Manufacturing Overhead Work in Process Me Prev 1 of 5 !!! Next > HA B W Jobs that had cost $450,000 to complete according to their job cost sheets were shipped to customers during them jobs were sold on account at 26% above cost. Required: 1. Prepare journal entries to record the transactions given above. 2. Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant transactions from above to ea Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $35,000. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant transactions from above to each account balance in each account, assuming that Work in Process has a beginning balance of $35,000. Manufacturing Overhead Work in Process Beg. bal Beg. bal b. c. d. End, bal End, bal