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The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw materials purchased on account, $210,000. b. Raw materials used in production, $189,000 ($151,200 direct materials and $37,800 indirect materials). C. Accrued direct labor cost of $49,000 and indirect labor cost of $20,000. d. Depreciation recorded on factory equipment, $106,000. e. Other manufacturing overhead costs accrued during October, $129,000. f. The company applies manufacturing overheed cost to production using a predetermined rate of $8 per machine- hour, A total of 76.200 machine-hours were used in October. g. Jobs costing $512,000 according to their job cost sheets were completed during October and transferred to Finished Goods. h Jobs that had cost $453,000 to complete according to their job cost sheets were shipped to customers during the month. These jobs were sold on account at 22% 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. Required 1 Required 2 Prepare journal entries to record the transactions given above. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Transaction Credit Debit General Journal Raw materials 210,000 a. Accounts payable 210,000 b. Work in process 189,000 8 151,200 8 Manufacturing overhead Raw materials 37,800 Work in process 49,000 Manufacturing overhead 20,000 Salaries and wages payable 69,000 Manufacturing overhead d. 106.000 Accumulated depreciation 106,000 Manufacturing overhead 130,000 8 Accounts payable 130,000 8 Work in process 6. 609,600 Manufacturing overhead 609,600 Finished goods 512,000 Work in process 512,000 8. Accounts receivable h(1). 522,660 O Sales 522,660 9. Cost of goods sold Finished goods h(2). 453,000 453,000 Complete this question by entering your answers in the tabs below. Required 2 Required 1 Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant transactions from above to each accou balance in each account, assuming that Work in Process has a beginning balance of $35,000. Work in Process Manufacturing Overhead 609,600 35,000 Beg. Bal 1. 37,800 37,800 O 512,000 g. b. 20,000 20.000 C. 106,000 d. 609,600 O 130,000 e. 315,800 End. Bal. 190,400 End. Bal.