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, $188,000 ($150,400 direct materials and $37,600 indirect materials). c. Accrued direct labor cost of $49,000 and indirect labor cost of $22,000, d. Depreciation recorded on factory equipment, $106,000 e. Other manufacturing overhead costs accrued during October, $131,000, The company applies manufacturing overhead cost to production using a predetermined rate of $6 per machine-hout. A total of 76,100 machine-hours were used in October 9. Jobs costing $511,000 according to their job cost sheets were completed during October and transferred to Finished Goods. h. 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 20% 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. 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 na entry is required for a transaction/event, select "No journal entry required in the first account held.) View transaction ist Journal entry worksheet 1 2 3 4 5 6 78 9 Raw materials purchased on account, $210,000 Note: Enter debits before credits Transaction General Journal Debit Credit www