The Polarls Company uses a job-order costing system. The followIng transactions occurred In October: a. Raw materlals purchased on account, $210,000. b. Raw materlals used In production, $192,000 ( $153,600 direct materlals and $38,400 Indirect materlals). c. Accrued direct labor cost of $49,000 and Indirect labor cost of $22,000. d. Depreclation 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 $6 per machine-hour. A total of 76,400 machine-hours were used in October. g. Jobs costing $513,000 according to theIr job cost sheets were completed during October and transferred to FInIshed Goods. h. Jobs that had cost $452,000 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 $34,000. Complete this question by entering your answers in the tabs below. 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 $34,000. Superior Company provided the following data for the year ended December 31 (all raw materlals are used in production as direct materlals): Inventory balances at the beginning and end of the year were as follows: The total manufacturing costs added to production for the year were $675,000; the cost of goods avallable for sale totaled $730,000; the unadjusted cost of goods sold totaled $663,000; and the net operating income was $39,000. The company's underapplled or overapplied overhead is closed to Cost of Goods Sold. Required: Prepare schedules of cost of goods manufactured and cost of goods sold and an income statement. (HInt: Prepare the Income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.) Complete this question by entering your answers in the tabs below. Prepare a schedule of cost of goods manufactured