The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw materials purchased on account, $209,000. b. Raw materials used in production, $192,000 (\$153,600 direct materials and $38,400 indirect materials) c. Accrued direct labor cost of $50,000 and indirect labor cost of $21,000. d. Depreciation recorded on factory equipment, $105,000. e. Other manufacturing overhead costs accrued during October, $129.000. f. The company applies manufacturing overhead cost to production using a predetermined rate of $9 per machine-hour A total of 76,100 machine hours were used in October. 9. Jobs costing $515,000 according to their job cost sheets were completed during October and transferted to Finished Goods. h. 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 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 or $34,000 Journal entry worksheet Raw materials purchased on account, $209,000. Note: Enter debits before credits. Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant transactions from above to each account, Compute ti each account, assuming that Work in Process has a beginning balance of $34,000