P QUESTION 2 Question two: 010 points) The Polaris Company uses a job-order costing system. The following data relate to October, the first month of the company's fiscal year. a Raw materials purchased on account, $420,000 b. Raw materials issued to production, $380,000 (5356,000 direct materials and $24,000 indirect materials). e. Direct labor cost incurred, S180,000, indirect labor cost incurred for production, $220,000 d. Depreciation recorded on factory equipment, $80,000 e. Other manufacturing overhead costs incurred during October, 5140,000 (credit Accounts Payable). f. The company applies manufacturing overhead cost to production on the basis of S8 per machine-hour. A total of 60,000 machine-hours were recorded for October Production orders costing $1,040,000 according to their job cost sheets were completed during October and transferred to Finished Goods h. Production orders that had cost $960,000 to complete according to their job cost shects were shipped to customers during the month. These goods were sold on account at 25% above cost Required: Prepare journal entries to record the information given above. Work in Process has a beginning balance of 584,000 Dr. Cr