The Polaris Company uses a job-order costing system. The following transactions occurred in October a. Raw materials purchased on account, $209,000 b. Raw materials used in production, $190,000 (5152,000 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 The company applies manufacturing overhead cost to production using a predetermined rate of $8 per machine-hour. A total or 76,000 machine-hours were used in October 9 Jobs costing $512,000 according to their job cost sheets were completed during October and transferred to Finished Goods 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 30% above cost COS 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 $35,000 Complete this question by entering your answers in the tabs below. Required 1 Required 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. Manufacturing Overhead Beg bal Beg bal to Work in Process 35.000 152.000 512,00019 49.000 608,000 38,000 21,000 105,000 d 600.000 332.000 End bal 444,000 End, bal