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PLEASE COMPLETE THE QUESTION FROM PARTS Q-H AND 1-2 I WILL SUPPLEMENT THE OUTLINE OF EACH SECTION, ILL BE SURE TO UPVOTE THANK YOU SM

PLEASE COMPLETE THE QUESTION FROM PARTS Q-H AND 1-2 I WILL SUPPLEMENT THE OUTLINE OF EACH SECTION, ILL BE SURE TO UPVOTE THANK YOU SMimage text in transcribed

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The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw materials purchased on account, $209,000. 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, $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 $7 per machine-hour. A total of 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 $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 $37,000. Journal entry worksheet Raw materials purchased on account, $209,000. Note: Enter debits before credits. Journal entry worksheet Record the raw materials issued to production, $191,000 ( $152,800 direct materials and $38,200 indirect materials). Note: Enter debits before credits. Journal entry worksheet Record the entry for accrued direct labor cost incurred, $49,000; indirect labor cost incurred, $21,000. Note: Enter debits before credits. Journal entry worksheet

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