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 $35,000. Complete this question by entering your answers in the tabs below. Prepare joumal entries to record the transactions given above. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet The Polaris Company uses a job-ordet costing system. The following transactions occurred in October a. Raw materials purchased on account, $210,000 b. Raw materials used in production, $191,000 (\$152,800 direct materials and $38,200 indirect materials) c. Accrued direct labor cost of $48,000 and indirect labor cost of $21,000 d. Depreciotion recorded on factory equipment, $104,000 e Other manufacturing ovethead costs accrued during October, $129,000. t. 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 9. Jobs costing $510,000 according to their job cost sheets were completed during Octobet and transferred to Finisthed 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 30% 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 $35,000. Required: Required: Prepare joumal entries to record the transactions given above. 2. Prepare T-accounts for Manufacturing Overtiead 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 $35,000. Complete this question by entering your answers in the tabs below. Mrepare T-accounts for Manutacturing Overhead and Work in Process. Post the relevant transactions from sbove to each account. Compute the