The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw materials purchased on account, $211,000. b. Raw materials used in production, $190,000 (\$152,000 direct materiais and $38,000 indirect materials). c. Acerued direct labor cost of $48,000 and indirect labor cost of $22,000. d. Depreciation recorded on factory equipment, $106,000. e. Other manufacturing overhead costs accrued during October, $130,000. f. The company applies manufacturing overhead cost to production using a predetermined rate of $10 per machine-hour. A total of 76,400 machine-hours were used in Qctober. g. Jobs costing $511,000 according to their job cost sheets were completed during October and transferred to Finished Goods. h. Jobs that had cost $449,000 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. Prepare journal entries to record the transactions given above. (If no entry is required for a transaction/event, select "Wo joumal entry required in the first account field.) Inurnal entrv worksheet Note: Enter desits before credit: 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 Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $36 Complete this question by entering your answers in the tabs below. Prepare journal entries to record the transactions given above. (If no entry is required for a transaction/event, sele required "in the first account field.) Journal entry worksheet Note: Enter deblts Yefore credits. 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 abc Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $36,0 Complete this question by entering your answers in the tabs below. Prepare journal entries to record the transactions given above. (If no entry is required for a transaction/event, select required in the first account field.) Journal entry worksheet Record the entry for accrued direct labor cost incurred, $48,000; indirect labor cost incurred, $22,000. Note: Enter debits before credits. 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 fron Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $ Complete this question by entering your answers in the tabs below. Prepare fournal entries to record the transactions given above. (If no entry is required for a tronsaction/event, so required in the first account field.) Journal entry worksheet 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 a Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $36 Complete this question by entering your answers in the tabs below. Prepare journal entries to record the transactions given above. (If no entry is required for a transaction/event, sele required in the first account field.) Journal entry worksheet 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 Compute the ending balance in each account, assuming that Work in Process has a beginning balance of \$31 Complete this question by entering your answers in the tabs below. Prepare journal entries to record the transactions given above. (If no entry is required for a transaction/event, sele required in the first account field.) Journal entry worksheet Required: 1. Prepare journal entries to record the transactions given above. 2. Prepare T-accounts for Manufacturing Overheod and Work in Process. Post the relevant transactions from Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $ Complete this question by entering your answers in the tabs below. Prepare journal entries to record the transactions given above. (If no entry is required for a transaction/event, sel required in the first account field.) Journal entry worksheet 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 abo Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $36,00 Complete this question by entering your answers In the tabs below. Prepare journal entries to record the transactions given above. (If no entry is required for a transaction/event, select " required "in the first account field.) Journal entry worksheet Required: 1. Prepare journal entries to record the transactions given above. 2. Prepare T-accounts for Manufacturing Overhead ond Work in Process. Post the relevant transactions from at Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $36, Complete this question by entering your answers in the tabs below. Prepare journal entries to record the transactions given above. (If no entry is required for a transaction/event, select required" in the first account field) Journal entry worksheet
