The Polaris Company uses a job-order costing system. The following tansactions occurred in October: a. Raw materials purchased on account, $209,000 b. Raw materials used in producbon, $189,000($151,200 direct materials and $37,800 indirect materials). c. Accrued direct labor cost of $49,000 and indirect labor cost of $21,000 d. Depreciation recorded on tactory equipment, $105,000 e. Other manufacturing overhead costs accrued during October, $130,000 f. The company oppli es manufacturing overhead cost to production using a predetermined rate of $5 per machine-tour, A total of 76.400 machine-hours were used in Octobec. 9. Jobs costing $514,000 occording 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 30% above cost. Required: 1. Prepare journal entries to record the transactions given above. 2. Prepare T-accounts for Manufactuting 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 $34,000