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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, $190,000 ($152,000 direct materials and $38,000 indirect materials) c. Accrued direct labor cost of $49,000 and indirect labor cost of $21,000. d. Depreciation recorded on factory equipment, $105,000. e. Other manufacturing overhead costs accrued during October, $129,000. f. The company applies manufacturing overhead cost to production using a predetermined rate of $10 per machine-hour. A total of 76,000 machine-hours were used in October. g. Jobs costing $515,000 according to their job cost sheets were completed during October and transferred to Finished Goods h. Jobs that had cost $453,000 to complete according to their job cost sheets were shipped to customers during the month. These jobs were sold on account at 30% 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 $36,000. 1 Required 2 Required 1 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.) 66.66 Debit Credit points General Journal Transaction No 211,000 Raw materials 1 a 211,000 Accounts payable 152,000 Work in process 2 38,000 Manufacturing overhead 190,000 Raw materials 49,000 Work in process 3 C. 21,000 Manufacturing overhead 70,000 Salaries and wages payable 105,000 Manufacturing overhead d 4 105,000 Accumulated depreciation 129,000 Manufacturing overhead 5 129,000 Accounts payable 76,000x Work in process f 6 76,000 Manufacturing overhead 515,000 Finished goods 7 515,000 Work in process Complete this question by entering your answers in the tabs below. Required 2 Required 1 Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant transactions from above to each acc balance in each account, assuming that Work in Process has a beginning balance of $36,000. count. Con Manufacturing Overhead Work in Process f. b. 38,000 586,000 Beg. Bal 36,000 21,000 b. 152,000 515,000 C. g. d. 105,000 49,000 482,000 C. 760,000 129,000 d. e. 293,000 e. End. Bal End. Bal Required 1 Required 2 C