The Polaris Company uses a job-order costing system. The foliowing transactions occurred in October a. Raw materials purchased on account, $209,000. b. Raw materials used in production, $191.000 ($152,800 direct materials and $38,200 indirect materials) c. Accrued direct labor cost of $49,000 and indirect labor cost of $22,000 d. Depreciation recorded on factory equipment, $104,000 e Other manufacturing overhead costs accrued during October, $129,000 1. The company applies manufacturing overhead cost to production using a predetermined rate of $9 per machine-hour. A total of 76.200 machine-hours were used in October g Jobs costing $514,000 according to their job cost sheets were completed during October and transferred to Finished Goods h. Jobs that had cost $448,000 to complete according to their job cost sheets were shipped to customers during the monith. These jobs were sold on account at 30% above cost 28 ok 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 balarce in each account, assuming that Work in Process has a beginning balance of $36,000, rences Complete this question by entering your answers in the tabs below. Required i Meguired 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 first account field.) View transaton Journal entry worksheet 16 Raw materials purchased on account, s209,000.