The Polaris Company uses a job-order costing system. The following transactions occurred in October a. Raw materlals purchased on account, $210,000. b. Raw materlals used in production, $188,000 ($150,400 direct materials and $37,600 indirect materlals). c. Accrued direct labor cost of $50,000 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 too production using a predetermined rate of $5 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 to Finished Goods h. Jobs that had cost $450,000 to complete according to thelr Job cost sheets were shipped to customers during the month. These jobs were sold on account at 24% above cost Required: 1. Prepare journal entries to record the transactions glven 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 Required 2 Prepare journal entries to record the transactions given above. (If no entry is required for a transaction/event, select "No joumal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 Raw materials purchased on account, $210,000. Note: Enter debits before credits. General Journal Transaction Debit Credit Record entry View general journal Clear entry Required 2 Required 1