PLEASE ORGANIZE

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, $190,000 ($152,000 direct materials and $38,000 indirect materials). c. Accrued direct labor cost of $49,000 and indirect labor cost of $20,000. d. Depreciation recorded on factory equipment, $104,000. e. Other manufacturing overhead costs accrued during October, $129,000. f. The company applies manufacturing overhead cost to production using a predetermined rate of $9 per machine-hour. A total of 76,300 machine-hours were used in October. g. Jobs costing $515,000 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 28% 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 $36,000. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Manufacturing Overhead Debit Beginning balance b. c. d. Ending balance Credit 515,000 0 515,000 0 38,000 e 20,000 e 104,000 129,000 291 ,ooo Debit Beginning balance b. c. Ending balance Required 1 Work in Process Credit 190,000 0 190,000 152,000 e 49,000 e 686,700 e 887,700 Required 2