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, $189,000 (\$151,200 direct materials and $37,800 indirect materials). c. Accrued direct labor cost of $48,000 and indirect labor cost of $20,000. d. Depreciation recorded on factory equipment, $105,000. e. Other manufacturing overhead costs accrued during October. $130,000. 6. The compary applies manufacturing overhead cost to production using a predetermined rate of $7 per machine-hour. A total of 76.000 machine-houts were used in October. 9. Jobs costing $514.000 according to their Job cost sheets were completed during October and transferred to Fintshed Goods. 7. Jobs that had cost $453,000 to complete accorcing to their job cost sheets were shipped to customers during the month. These Jobs were sold on account at 38% above cost. Required: 1. Piepare joutnal entries to record the transactions given above. 2. Prepare Taccounts for Manufucturing Oveliead and Work in Process. Post the relevant transactions from above to each account. Compute the ending batance in eech. account assuming that Work in Process has a beginning batance of 537000 Complete this question by entering your answers in the tabs below. Prepare joumal entries to record the transactions given above. (If no entry is required for a tranisaction/event, select "Na journal entry; required" in the first account field.) Journal entry worksheet Prepare Traccounts for Marufacturing Ovechead and Work in Process. Post the relevant transactions from above to each account, Compute the ending balance in each accopiant, assuming that Work in Process has a beginning balance of $37,000