The Polaris Company uses a job-order costing system. The following transactions occurted in October: a. Raw materials purchased on account, $211,000. b. Raw materials used in production, $192,000 (\$153,600 direct materials and $38,400 indirect materials). c. Accrued direct labor cost of $48,000 and indirect labor cost of $20,000. d. Depreciation recorded on foctory equipment, $105,000. e. Other manufacturing ovechead costs accrued during October, $129.000. t. The company applies manufacturing overhead cost to production using a predetermined rate of $7 per machine-hour. A total of 76.300 machine-hours were used in October. 9. Jobs costing $513,000 according to their job cost sheets were completed during October and transferred to Finished Goods. h. Jobs that had cost $451,000 to complete according to their job cost sheets were shipped to customers during the month. These jobs were sold on account at 38% above cost. Required: 1. Prepare joumal entries to rocord 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 batance in each account, assuming that Work in Process hos a beginning balance of $36,000. Complete this question by entering your answers in the tabs below. Prepare fournal entrets to record the transactions given above. (If no entry is required for a transaction/event, select "No journal entry required in the first account neld.)