The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw materials purchased on account. $211,000. b. Raw materials used in production, $190.000 ($152,000 direct materials and $38.000 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, $130.000. t. The company applies manufacturing overhead cost to production using a predetermined rate of $5 per machine-hour. A total of 76,200 machine-hours were used in October. 9. Jobs costing $513.000 according to their job cost sheets were completed during October and transferred to Finished Goods. h. Jobs that had cost $452,000 to complete according to their job cost sheets were shipped to customers during the month. These Jobs were sold on account at 22% 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. Required 1 Required 2 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 et Journal entry worksheet Raw materials purchased on account, $211,000. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general Journal Required 1 Required 2 > 1 Raw materials purchased on account, $211,000. 2 Record the raw materials issued to production, $190,000 ($152,000 direct materials and $38,000 indirect materials) 3 Record the entry for accrued direct labor cost incurred, $49,000; indirect labor cost incurred, $21,000. 4 Depreciation recorded on factory equipment, $105,000 5 Other manufacturing overhead costs accrued during October, 5130,000. 5 Other manufacturing overhead costs accrued during October, $130,000. The company applies manufacturing overhead cost to production on the basis of $5 per machine-hour. A total of 76,200 machine-hours were recorded for October 7 Jobs costing 5513,000 according to their job cost sheets were completed during October and transferred to Finished Goods Record the cost of goods sold. 9 Record the sales on account. 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. Manufacturing Overhead Work in Process Beg bal Beg. bal End. bal End. bal