The Polaris Company uses a job-order costing system. The following transactions occurred in October a. Raw materials purchased on account. $210,000 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 $21,000. d. Depreciation recorded on factory equipment, $106,000. e. Other manufacturing overhead costs accrued during October, $131,000 f. The company applies manufacturing overhead cost to production using a predetermined rate of $7 per machine-hour. A total of 76,400 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 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 $36.000 Journal entry worksheet 2 3 4 5 6 7 8 9 > Raw materials purchased on account, $210,000. Note: Enter debits before credits Transaction General Journal Debit Credit Required 1 Required 2 Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant transactions from above to each account. Compu balance in each account, assuming that Work in Process has a beginning balance of $36,000. Manufacturing Overhead Work in Process Beg. Bai. End. Bal End. Bal