The Polaris Company uses a job-order costing system. The following transactions occurred in October: Raw materials purchased on account, $210,000. Raw materials used in production, $191,000 ($152,800 direct materials and $38,200 indirect materials). Accrued direct labor cost of $49,000 and indirect labor cost of $20,000. Depreciation recorded on factory equipment, $104,000. Other manufacturing overhead costs accrued during October, $130,000. 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. Jobs costing $513,000 were completed and transferred to Finished Goods. Jobs costing $450,000 were shipped to customers. These jobs were sold on account at 30% above cost. Required: Prepare journal entries to record the transactions given above. 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 Work in Process has a beginning balance of $33,000