Onlic () New Tab 3 1 (40 minutes) The Polaris Company u ses a a. Raw materials purchased on account, $210,000 b. Raw materials used in production, $191,000 ($152,800 direct materials and $38,200 indirect materials). c. Accrued direct labor cost of $49,000 and indirect labor cost of $21,000 d. Depreciation recorded on factory equipment, S104,000 e. Other manufacturing overhead costs f. The company applies manufacturing overhead cost to production using a predetermined rate of $6 per machine-hour. A total of ed during October, $130,000 76,200 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 $450,000 to complete ding to their job cost sheets were shipped to customers during the month. These jobs were sold on account at 34% 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 Comput e the ending balance in each account, assuming that Work in Process has a beginning balance of $33.000 Complete this question by entering your answers in the tabs below Required 1 Required 2 Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant transactions from balance in each account, assuming that Work in Process has a beginning balance of $33,000. to ea Beg Bal 1 2 Next>