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The Polaris Company uses a job order costing systems the following transaction occurred in October: a.Raw materials purchased on account $210000 b Raw materials used in production,$191000($152800 direct materials and $38200 indirect materials) c.Accrued direct labour cost $49000 and indirect labor cost $22000 d Depreciation recorded on factory equipment $105000 e Other manfacturing overhead cost accrued during October 130000 f The company applies manfacturing overhead cost to production using a predetermined overhead rates of $9 per machine hour .A total of 76200 machine hours were used in October gJobs costing 512000 according to their job were completed during October and transferred to finished goods h Jobs that had cost 450000 to complete according to their job cost sheet were shipped to customers during the month. These jobs were sold on account at 38%above cost

Required: 1.Prepare journal entry to record the transactions given above 2 Prepare T account 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 of $37000