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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, $211,000 b. Raw materials used in production. $189.000 (5151.200 direct materials and $37,800 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. Other manufacturing overhead costs accrued during October $130,000 The company applies manufacturing overhead cost to production using a predetermined rate of 8 per machine-hour. A total of 76,400 machine-hours were used in October 9 Jobs costing 5510,000 according to their job cost sheets were completed during October and transferred to Finished Goods n. Jobs that had cost $448,000 to complete according to their job cost sheets were shipped to customers during the month. These Jobs were sold on account at 20% 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 Complete this question by entering your answers in the tabs below. Read Required 2 Prepare journal entries to record the transactions given above. (If no entry is required for a transaction/event, select "No journal entry required in the account hield.) Journal entry worksheet 4 5 8 9 Record the entry for accrued direct labor cost incurred, $49,000; indirect labor cost incurred, $20,000 Enter ett tore credite Doneral Journal Debel Credit Record entry Clear entry View general journal Regard 2 Record the entry for accrued direct labor cost incurred, $49,000; Indirect labor cost incurred, $20,000 Note Enter debits before credite Transaction General Journal Debit Credit 0 No journal entry required Accounts payable Accounts receivable Accumulated depreciation Cash Recordant View general journal Required 2 > ARH Mart Record the entry for accrued direct labor cost incurred, $49,000; Indirect labor cost incurred, $20,000. Note Enter debits before credits Transaction General Journal Debit Credit C Cost of goods sold Depreciation expense Finished goods Manufacturing overhead Raw materials Record enti View general journal Required 2 > Record the entry for accrued direct labor cost incurred, $49,000; Indirect labor cost incurred, $20,000. Not Entr debits before credits Gannal Journal Dobil Credit c Raw materials Salaries and wages payable Sales Selling and administrative expenses Work in process Recordan View general Journal Required 2 > Complete this question by entering your answers in the tabs below. Required Required 2 Peware 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. Macturing Overhand Work in Process Beg Bai End End Bar