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, $191,000 ($152,800 direct materials and $38,200 indirect materials). c Accrued direct labor cost of $50,000 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. f. The company applies manufacturing overhead cost to production using a predetermined rate of $9 per machine-hour. A total of 76,500 machine-hours were used in October g. Jobs costing $512.000 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 36% 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 $37,000. abs below. Complete this question by entering your answers in the t Required 1 Required 2 Prepare lournal entries to record the transactions alven above. (1If no entry is required for a transaction/event. select "No lournal entry ect Homework Assigment (150 min... Prepare journal entries to record the transactions given above. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 6 7 8 5 2 3 1 Raw materials purchased on account, $211,000. Note: Enter debits before credits. Debit Credit General Journal Transaction newc Saved onnect Homework Assigment (150 min..i Journal entry worksheet 8 7