Check my work 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, $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, $105,000. e. Other manufacturing overhead costs accrued during October, $130,000. f. The company applies manufacturing overhead cost to production using a predetermined rate of $9 per machine-hour. A total of 76,300 machine-hours were used in October. g. Jobs costing $513,000 according to their job cost sheets were completed during October and transferred to Finished Goods. h. Jobs that had cost $452,000 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 $37,000. Prepare journal entries to record the transactions given above. (If no entry is required for a transaction/event, select "No jou required" in the first account field.) 3.33 points View transaction list eBook Journal entry worksheet Hint Print References Record the cost of goods sold. Note: Enter debits before credits. Credit Transaction h(1). General Journal Finished goods Work in process Debit 513,000 513,000 Mc Journal entry worksheet Sook Hint Record the sales on account. rint rences Note: Enter debits before credits. Credit Transaction h(2) Debit 452,000 General Journal Cost of goods sold Finished goods Cost of goods sold Finished goods 452,000 569,520 569,520 Record entry Clear entry View general journal