The Polaris Company uses a job-order costing system. The following transactions occurred in October a. Raw materials purchased on account, $210,000. b. Raw materials used in production, $189.000 ($151,200 direct materials and $37,800 indirect materials). c. Accrued direct labor cost of $48,000 and indirect labor cost of $20,000. d. Depreciation recorded on factory equipment, $105,000. e. Other manufacturing overhead costs accrued during October, $131,000. f. The company applies manufacturing overhead cost to production using a predetermined rate of $7 per machine hour. A total of 76,100 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 $ 451,000 to complete according to their job cost sheets were shipped to customers during the month. These jobs were sold on account at 26% 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 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant transactions from above to each balance in each account, assuming that Work in Process has a beginning balance of $35,000, Man Oy Debit Credit General Journal No Transaction 1 Raw materials Accounts payable 2 b Work in process Manufacturing overhead Raw materials 3 c. Work in process Manufacturing overhead Salaries and wages payable 4 d. Manufacturing overhead Accumulated depreciation 5 e Manufacturing overhead Accounts payable 6 1. Work in process Manufacturing overhead 7 9 Finished goods Work in process GT Manufacturing overhead Accounts payable 6 1 Work in process Manufacturing overhead 7 9 Finished goods Work in process 8 (1) Cost of goods sold Finished goods 9 h(2) Accounts receivable lonlar balance of $35,000. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant transactions from above to each acc balance in each account, assuming that Work in Process has a beginning balance of $35,000. Manufacturing Overhead b. Beg. Bal. b Work in Process 35,000 151,200 512,000 48,000 C d. c. 1. e End. Bal End. Bal. 277,800