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, $191,000 (\$152.800 direct materials and $38.200 indirect materials). c. Accrued direct labor cost of $49,000 and indirect labor cost of $20,000. d. Depreciation recorded on factory equipment, $105,000 e. Other manufacturing overhead costs accrued during October, $130,000. t. The compary applies manufacturing overhead cost to production using a predetermined rate of $10 per machine-hour. A total of 76.100 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. h. Jobs that had cost $447,000 to complete according to their job cost sheets were shipped to customers during the month. These jobs were sold on account at 26% above cost Required: 1. Piepare 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 $37,000 Complete this question by entering your answers in the tabs below. Prepare fournal entries to record the transactions aiven above, (If no entry is required for a transaction/event, select "No lournal entry Prepare T-accounts for Manufacturing Overhead and Work in Process. Pertthe rolevain iransactions from above to each account, Compute the end each account, asstiming that Work in Process has a beginning balance of $32,000