The Polaris Company uses a job-order costing system. The following data relate to October, the first month of the company's fiscal year.

a.Raw materials purchased on account, $210,000.b.Raw materials issued to production, $189,000 ($151,200 direct materials and $37,800 indirect materials).c.Direct labor cost incurred, $49,000; indirect labor cost incurred, $20,000.d.Depreciation recorded on factory equipment, $104,000.e.Other manufacturing overhead costs incurred during October, $130,000 (credit Accounts Payable).f.The company applies manufacturing overhead cost to production on the basis of $5 per machine-hour. A total of 76,500 machine-hours were recorded for October.

g.Production orders costing $511,000 according to their job cost sheets were completed during october and transferred to Finished Goods.

h.Production orders that had cost $451,000 to complete according to their job cost sheets were shipped to customers during the month. These goods were sold on account at 34% above cost.

Required:1.Prepare journal entries to record the information given above.(If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

2. Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant information above to each account. Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $35,000