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, $191000 ($152,800 direct materials and $38.200 indirect materials) c. Accrued direct labor cost of $50,000 and indirect labor cost of $21.000. d. Depreciation recorded on factory equipment. $106,000 e. Other manufacturing overhead costs accrued during October $130,000 1. The company applies manufacturing overhead cost to production using a predetermined rate of $8 per machine hour. A total of 76,500 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 $450,000 to complete according to their job cost sheets were shipped to customers during the month These jobs were sold on account at 32% 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