The Polaris Company uses a job order costing system. The following transactions occurred in October 08 po a. Raw materials purchased on account $210,000 h. Raw materials used in production, $191,000 ($152 800 direct materials and $18.200 Indirect materials) Accrued direct labor cost of $19.000 and indirect labor cost of $21.000 d. Depreciation recorded on factory equipment $105,000 e Other manufacturing overhead costs accrued during October $129.000 The company applies manufacturing overhead cost to production using a predetermined rate of $5 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 1 Jobs that had cost $447000 to complete according to their job cost sheets were shipped to customers during the month. These Jobs were sold on account at 34% 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 4. Required: Required Prepare journal entries to record the transactions given above. (If no entry is required for a transaction/event, select "No journal required in the first account hield 066 polnos View transaction list BOOK Journal entry worksheet Record the raw materials issued to production, $191,000 ($152,800 direct materials and $38,200 indirect materials). Note: Enter debits before credits. General Journal Debit Credit Transaction b. Record entry Clear entry View general journal View transaction list Journal entry worksheet 4 5 9 6 7 8 ces Record the entry for accrued direct labor cost incurred, $49,000; indirect labor cost incurred, $21,000. Note: Enter debits before credits Transaction Credit Debit General Journal Record entry Clear entry View general Journal Prepare journal entries to record the transactions given above. (If no entry is required for a transaction/ required" in the first account field.) View transaction list Journal entry worksheet Record the sales on account. Note: Enter debits before credits General Journal Debit Credit Transaction h(2) Record entry Clear entry View general journal 4 2. Prepare accounts for Manutacturing 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. 10 Required t Required 2 500 Prepare Taccounts for Manufacturing Overhead and Work in Process. Post the relevant transactions from above to each account Compute the er balance in each account, assuming that Work in Process has a beginning balance of $35,000. ferences Manufacturing Overhead Work in Process Beg Ba End Bal End Bal
