Journal entry worksheet Required 1 Required 2 Required 1 The Polaris Company uses a job-order costng system. The following transactions occurred in October: a. Raw materiais purchased on account, $211,000 b. Raw materials used in production, $189,000 ( $151,200 direct materials and $37,800 indirect materials) c. Accrued diect labor cost of $49,000 and indirect labor cost of $20,000 d Depreciation recorded on factory equipment, $106,000 e. Other manufacturing overhead costs accrued during October, $131,000 1. The compary applies manufocturing ovethead cost fo production using a predetermined rate of $7 per machine hour A total of 76$00 mochine hours were used in October. a. Jobs costing $514000 according to their job cost sheets were complefed duaing October and transferred to Finished Croods. h. Jobs that had cost $447,000 to complete according to their job cost sheets were shipped to custortien during the month. These jobs were sold on account at 322 above cost Required: Required: 1. Prepare journal enthes to record the transactons given above 2. Prepare T-acoounts for Manufacturing Overthead and Work in Process. Post the relevant transactions from above to each account Compute the ending balance in each account assiming that Wock in Process has a beginning balance of $34,000 Complete this question by entering your answers in the tabs below