Men vs. Women r. Part 6 Saved 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 $50,000 and indirect labor cost of $20,000 d. Depreciation recorded on factory equipment, $106.000. e. Other manufacturing overhead costs accrued during October, $130,000. 1. The company applies manufacturing overhead cost to production using a predetermined rate of $10 per machine-hour. A total of 76,200 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 $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 e beginning balance of $37.000 Complete this question by entering your answers in the tabs below. Required: Required 2 Prepare yournal entries to record the transactions given above. (if no entry to required for a transaction/event, select "No jours entry retuired in the first accounted) View transactions Prey 1 of 2 Next > MacBook Air 80 3 888 * 20 2 # 3 $ 4 % 5 & 7 8 1 0 a W E 70 T Y U 1 O P S D F G H J L a C