Assignment ResultsX+ v Exercise 2-9 Journal Entries and T-accounts [LO2-2, LO2-4, LO2-5 The Polaris Company uses a job-order costing system. The following data relate to October, the fist month of the company's fiscal year a Raw materials purchased on account, $210,000 b Raw materials issued to production, $190,000 ($178,000 direct materials and $12,000 indirect materials) c. Direct labor cost incurred, $90,000, indirect labor cost incurred, $110,000 d Depreciation recorded on factory equipment, $40,000 e Other manufacturing overhead costs incurred during October, $70,000 (credit Accounts Payable). f The company applies manufacturing overhead cost to production on the basis of $8 per machine-hour A g Production orders costing $820,000 according to theik job cost sheets were completed during October h Production orders that had cost 5480,000 to complete according to their job cost sheets were shipped to total of 30,000 machine-hours were recorded for October and transferred to Finished Goods customers during the month These goods were sold on account at 2S% above cost 1. Prepare jounal entries to record the information given above (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Transaction General Journal Debit a.Raw materials inventory 210,000 Accounts payable 210,000 153,600 38,400 Work in process Raw materials inventory 192,000 48,0000 20,000 Work in process Salaries and wages payable 68 000 O Type here to search