T-Chart help Managerial accounting practice problems

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, $188,000 ( $150,400 direct materials and $37,600 indirect materials). c. Accrued direct labor cost of $49,000 and indirect labor cost of $22,000. d. Depreciation recorded on factory equipment, $105,000. e. Other manufacturing overhead costs accrued during October, $129,000. f. The company applies manufacturing overhead cost to production using a predetermined rate of $7 per machine-hour. A total of 76,300 machine-hours were used in October. 9. Jobs costing $513.000 according to their job cost sheets were completed during October and transferred to Finished Goods. h. Jobs that had cost $450,000 to complete according to their job cost sheets were shipped to customers during the month. These jobs were sold on account at 32% 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. Quality Brick Company produces bricks in two processing departments-Molding and Firing. Information relating to the company's operations in March follows: a. Raw materials used in production: Molding Department, $28,000; and Firing Department, $5,600. b. Direct labor costs incurred: Molding Department, $16,300; and Firing Department, $5,100. c. Manufacturing overhead was applied: Molding Department, $23,300; and Firing Department, $37,000. d. Unfired, molded bricks were transferred from the Molding Department to the Firing Department. According to the company's process costing system, the cost of the unfired, molded bricks was $66,900. e. Finished bricks were transferred from the Firing Department to the finished goods warehouse. According to the company's process costing system, the cost of the finished bricks was $109,300. f. Finished bricks were sold to customers. According to the company's process costing system, the cost of the finished bricks sold was $104,200