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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 (5152,000 direct materials and $38,000 indirect materials). c. Accrued direct labor cost of $50,000 and indirect labor cost of $21,000. d. Depreciation recorded on factory equipment, $105,000 e. Other manufacturing overhead costs accrued during October, $130,000, 1. The company applies manufacturing overhead cost to production using a predetermined rate of $6 per machine-hour. A total of 76,100 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 $447,000 to complete according to their job cost sheets were shipped to customers during the month. These jobs were sold on account at 28% 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. Journal entry worksheet 1 2. 3 3 4 5 6 7 8 9 Raw materials purchased on account, $211,000. Note: Enter debits before credits. Transaction General Journal Debit Credit a Record entry Clear entry View general journal Journal entry worksheet 2 3 4 5 6 7 8 9 Record the raw materials issued to production, $190,000 ($152,000 direct materials and $38,000 indirect materials). Note: Enter debits before credits. General Journal Debit Credit Transaction b. Record entry Clear entry View general Journal Journal entry worksheet Depreciation recorded on factory equipment, $105,000. Natu: Enter debits before credits Transaction General Journal Recortunity Clearany Journal entry worksheet 1 2 3 4 5 5 6 7 8 9 > Other manufacturing overhead costs accrued during October, $130,000. Note: Enter debits before credits. Transaction General Journal Debit Credit Rucant any Cuarents Journal entry worksheet Jobs costing $513,000 according to their job cost sheets were completed during October and transferred to Finished Goods. Note: Enter debits before credits. Transaction General Journal Debit Credit g. Record entry Clear entry Journal entry worksheet