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, $192.000 ($153,600 direct materials and $38,400 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, $129.000 f. 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 g. Jobs costing $512.000 according to their job cost sheets were completed during October and transferred h. Jobs that had cost $453,000 to complete according to their job cost sheets were shipped to customers during the month. 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 that Work in Process has a beginning balance of $34,000. Complete this question by entering your answers in the tabs below. in Prepare journal entries to record the transactions given above. (If no entry is required for a tr the first account field.) ion/event, select "No journal entry r View transaction list