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, $190,000($152,000 direct materials and $38,000 indirect materials). c. Acprued direct labor cost of $50,000 and indirect labor cost of $22,000. d. Depreclation recorded on fectory equipment, $105.000 e. Other manufacturing overhead costs accrued during October, $130,000. t 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 $510,000 according to their job cost sheets were completed during October and transferred to Finished Goods h. Jobs that had cost $450,000 to complete according to their job cost sheets were shipped to customers during the month. These jobs were sold on account at 32% above cost. Required: L 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 $33,000. Complete this question by entering your answers in the tabs below Required i Required 2 Prepare journal entries to record the transactions given above. (ir no entry is required for a transaction/event, select "No the first account field.) Journal entry worksheet Prev 1 of 19E Next > MacBook Air 2 3 4 0