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, $105,000 e. Other manufacturing overhead costs accrued during October, $130,000, The company applies manufacturing overhead cost to production using a predetermined rate of $6 per machine hour. A total of 76,200 machine-hours were used in October 9. Jobs costing $510,000 according to their job cost sheets were completed during October and transferred to finished Goods Jobs that had cost $448,000 to complete according to their job cost sheets were shipped to customers during the month. These jobs were sold on account at 34% 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 $35.000, 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 transaction/ventet Ne journal entry required in the first account field.) View transactionist Journal entry worksheet