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 materials and $38,000 indirect moterials). c. Accrued 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. t. 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 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 $449,000 to complete according to their job cost sheots were shipped to customers during the month. These jobs were sold on account at 20% above cost. Required: 1. Prepare joumal entries to record the transactions glven 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. Complate this question by entering your answers in the tabs below. Prepere T-acrounts for Manufacturing Overicad and Work in Process, Post the relevant transactions frem above to each acceunt, Compuse the ending each account, assuming that Work in process has a beginning balance of $36,000