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 ($152.000 direct materials and $38,000 indirect materials). c. Accrued direct labor cost of $48,000 and indirect labor cost of $22.000. d. Depreciation recorded on factory equipment, $105,000. e. Other manufacturing overhead costs accrued during October, $129,000 1. The company applies manufacturing overhead cost to production using a predetermined rate of $5 per machine-hour. A total of 76,300 machine-hours were used in October g. Jobs costing $514,000 according to their job cost sheets were completed during October and transferred to Finished Goods. h. Jobs that had cost $451,000 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.) Mew transaction list 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 list Journal entry worksheet < 1 2 3 4 5 6 7 8 9 Raw materials purchased on account, $209,000. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal < Prev 4 of 6 Next > 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 list Journal entry worksheet 1 2 4 5 6 7 8 9 Record the raw materials issued to production, $190,000 ($152,000 direct materials and $38,000 indirect materials). Note: Enter debits before credits Transaction b General Journal Debit Credit Record entry Clear entry View general journal < Prev 4 of 6 Next > Journal entry worksheet < 1 2 35 4 5 6 7 B 9 Record the entry for accrued direct labor cost incurred, $48,000; indirect labor cost incurred, $22,000. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal < Prev 4 of 6 Next > er 3-Homework i Saved Required 1 Required 2 Prepare Journal entries to record the transactions given above. (If no entry is required for a transaction/event, select "No journa required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 5 6 7 B ces Depreciation recorded on factory equipment, $105,000. Note: Enter debits before credits. Transaction di General Journal Debit Credit Record entry Clear entry View general journal < Prev 4 of 6 Next > ware | x Question 4-Chapter 3-Home x mheducation.com/ext/map/index.html?_con-con&external browser-08daunchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F/activity/q Homework Seved 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 list Journal entry worksheet 1 2 3 4 6 7 8 9 Other manufacturing overhead costs accrued during October, $129,000. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal < Prev 4 of 6 Next > 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 list Journal entry worksheet 1 2 3 5 S 7 8 9 The company applies manufacturing overhead cost to production on the basis of $5 per machine-hour. A total of 76,300 machine-hours were recorded for October. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal < Prev 4 of 6 Next > Journal entry worksheet < 1 2 3 4 5 6 nces 8 9 Jobs costing $514,000 according to their job cost sheets were completed during October and transferred to Finished Goods. Note: Enter debits before credits Transaction D General Journal Debit Credit Record entry Clear entry View general journal < Prev 4 of 6 Next > 0 Required 1 Required 2 Prepare journal entries to record the transactions given above. (If no entry is required for a transaction/even required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 5 6 7 8 c4 6 Jobs costing $514,000 according to their job cost sheets were completed during October and transferred to Finished Goods. Note: Enter debits before credits. Transaction g General Journal Debit Credit Record entry Clear entry > View general journal < Prev 4 of 6 Next to.mheducation.com/ext/map/index.html?_con-con&external browser=0&launchUrl=https%253A%252F%252Fnewconnect.mhe 3-Homework Saved Required 1 Required 2 Prepare journal entries to record the transactions given above. (If no entry is required for a transaction/event, required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 5 Record the cost of goods sold. 6 7 8 9 Note: Enter debits before credits Transaction General Journal Debit Credit h(1). Record entry Clear entry View general journal < Prev 4 of 6 Next > lyr Required 1 Required 2 Prepare journal entries to record the transactions given above. (If no entry is required for a transaction/event, select "m required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 5 6 7 8 Record the sales on account. B Note: Enter debits before credits. Transaction General Journal Debit Credit h(2) Record entry Clear entry View general journal < Prev 4 of 6 Next > Typ C 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 $34,000. Manufacturing Overhead Debit Credit Beginning balance Work in Process Debit Credit Beginning balance Ending balance Ending balance