Check My Wor 17 Exercise 3-5 (Algo) Journal Entries and T-accounts (LO3-1, LO3-2) 10 points The Polaris Company uses a job-order costing system. The following transactions occurred in October eBook Hint Print a. Raw materials purchased on account. $210,000 b. Raw materials used in production, $188,000 ($150,400 direct materials and $37,600 indirect materials). c. Accrued direct labor cost of $49,000 and indirect labor cost of $21,000. d. Depreciation recorded on factory equipment, $104,000. e. Other manufacturing overhead costs accrued during October, $131,000. f. The company applies manufacturing overhead cost to production using a predetermined rate of $10 per machine-hour. A total of 76,400 machine-hours were used in October 9. Jobs costing $512,000 according to their job cost sheets were completed during October and transferred to Finished Goods. h. Jobs that had cost $448,000 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 References 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 $36,000 Check 2. Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant transactions from above to each accou Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $36,000. Complete this question by entering your answers in the tabs below. Required i Required 2 Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant transactions from above to each account. Com balance in each account, assuming that Work in Process has a beginning balance of $36,000. Manufacturing Overhead Work In Process Beg, bal Beg. bal. End. bal. End, bal