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, $106,000. e. Other manufacturing overhead costs accrued during October, $130,000. f. The company applies manufacturing overhead cost to production using a predetermined rate of $6 per machine-hour. A total of 76,300 machine-hours were used in October. g. Jobs costing $513,000 were completed and transferred to Finished Goods. h. Jobs costing $452,000 were shipped to customers. These jobs were sold on account at 36% 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 Work in Process has a beginning balance of $36,000. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare journal entries to record the transactions given above. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Prepare journal entries to record the transactions given above. Note: 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 < 1 2 ME 4 5 6 7 8 9 Raw materials purchased on account, $210,000. Note: Enter debits before credits. Transaction a. General Journal Debit Credit Record entry Clear entry View general journal Required 1 Required 2 Prepare journal entries to record the transactions given above. Note: 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 1 3 4 5 6 7 8 9 Record the raw materials issued to production, $189,000 ($151,200 direct materials and $37,800 indirect materials). Note: Enter debits before credits. Transaction. b. General Journal Debit Credit Record entry Clear entry View general journal is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet < 1 2 4 5 6 7 8 9 Record the entry for accrued direct labor cost incurred, $48,000; indirect labor cost incurred, $20,000. Note: Enter debits before credits. Transaction C. General Journal Debit Credit Record entry Clear entry View general journal Required 1 Required 2 Prepare journal entries to record the transactions given above. Note: 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 > 1 2 3 5 6 7 8 Depreciation recorded on factory equipment, $106,000. Note: Enter debits before credits. Transaction d. 6 General Journal Debit Credit Record entry Clear entry View general journal View transaction list quired for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet < 1 2 3 4 5 6 7 8 9 Other manufacturing overhead costs accrued during October, $130,000. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal ctions given above. Note: 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 < 1 2 3 4 5 6 7 8 9 The company applies manufacturing overhead cost to production on the basis of $6 per machine-hour. A total of 76,300 machine-hours were recorded for October. Note: Enter debits before credits. Transaction f. General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet No journal entry required" in the first account field. < 1 2 3 4 5 6 7 8 9 Jobs costing $513,000 according to their job cost sheets were completed during October and transferred to Finished Goods. Note: Enter debits before credits. Transaction 9. General Journal. Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 1 2 3 4 5 6 Record the cost of goods sold. Note: Enter debits before credits. Transaction h(1). 7 9 General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet > event, select "No journal entry required" in the first account field. 1 2 3 4 5 6 7 8 00 Record the sales on account. Note: Enter debits before credits. Transaction h(2). General Journal Debit Credit Record entry Clear entry View general journal