The Polaris Company uses a job-order costing system. The following transactions occurred in October a Raw materials purchased on account, $209,000 b. Raw materials used in production, $192.000 ($153,600 direct materials and $38.400 Indirect materials), c. Accrued direct labor cost of $49,000 and indirect labor cost of $21,000. d. Depreciation recorded on factory equipment, $105,000. e Other manufacturing overhead costs accrued during October, $131,000, 1. The company applies manufacturing overhead cost to production using a predetermined rate of $8 per machine-hour. A total of 76,200 machine-hours were used in October g. Jobs costing $512,000 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 month. These jobs were sold on account at 20% 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 $34.000 Complete this question by entering your answers in the tabs below. 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 transaction list Journal entry worksheet