i need to solve this problem (4)
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 $48,000 and indirect labor cost of $22,000. d. Depreciation recorded on factory equipment, $106,000. e. Other manufacturing overhead costs accrued during October. $130,000. f. The company applies manufacturing overhead cost to production using a predetermined rate of $6 per machine-hour. A total of 76,300 machine-hours were used in October. 9. Jobs costing $515,000 according to their job cost sheets were completed during October and transferred to Finished Goods. h. Jobs that had cost $451,000 to complete according to their job cost sheets were shipped to customers during the month. These Jobs were sold on account at 38% 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 $34,000. Complete this question by entering your answers in the tabs below. Prepare journal entries to record the transactions given above. (if no entry is required for a transactionfevent, select "No journal entry requlred in the first account field.) Prepare journal entries to record the transactions given above. (If no entry is required for a transaction/event, required" in the first account field.) Journal entry worksheet 456789 Raw materials purchased on account, $210,000. Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant transactions from above to each account. Compute the each account, assuming that Work in Process has a beginning balance of $34,000