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, $190,000 (5178,000 direct materials and $12,000 indirect materials). c. Accrued direct labor cost of $90,000 and indirect labor cost of $110,000 d. Depreciation recorded on factory equipment, $40,000 e Other manufacturing overhead costs accrued during October, $70,000 f. The company applies manufacturing overhead cost to production using a predetermined rate of $8 per machine-hour. A total of 9. Jobs costing $520,000 according to their job cost sheets were completed during October and transferred to Finished Goods. h. Jobs that had cost $480,000 to complete according to their job cost sheets were shipped to customers during the month. These jobs were sold on account at 25% 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 $42.000 ces Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare journal entries to record the transactions glven above. (If no entry is required for a transaction/event, select "No journal entry required in the first account field) View transactional