1. Raw materials purchased on account, $210,000.
2. Raw materials used in production, $189,000 ($151,200 direct materials and $37,800 indirect materials).
3. Accrued direct labor cost of $49,000 and indirect labor cost of $21,000.
4. Depreciation recorded on factory equipment, $104,000.
5. Other manufacturing overhead costs accrued during October, $130,000.
6. The company applies manufacturing overhead cost to production using a predetermined rate of $8 per machine-hour. A total of 76,000 machine-hours were used in October.
7. Jobs costing $515,000 were completed and transferred to Finished Goods.
8. Jobs costing $450,000 were shipped to customers. These jobs were sold on account at 24% 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 Work in Process has a beginning balance of $37,000.