Question 5 - Ch 3 Homework - C X Course Hero x M 3aaa - austinwaltergreen@gmail. x M 4 - austinwaltergreen@gmail.cor x + C * ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation.com%252Fconnect%252Fltiwrapper%252FltiaCloseWindow.... [ Ch 3 Homework i Saved Help Save & Exit Submit Check my work 5 The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw materials purchased on account, $210,000. 10 b. Raw materials used in production, $190,000 ($178,000 direct materials and $12,000 indirect materials). points c. Accrued direct labor cost of $90,000 and indirect labor cost of $110,000. d. Depreciation recorded on factory equipment, $40,000. e. Other manufacturing overhead costs accrued during October, $70,000. eBook f. The company applies manufacturing overhead cost to production using a predetermined rate of $8 per machine-hour. A total of 30,000 machine-hours were used in October. Print J. Jobs costing $520,000 according to their job cost sheets were completed during October and transferred to Finished Goods. h. Jobs that had cost $480,000 to complete according to their job cost sheets were shipped to customers during the month. These References jobs were sold on account at 25% above cost. Required: 1. Prepare journal entries to record the transactions given 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 $42,000. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare journal entries to record the transactions given above. (If no entry is required for a transaction/event, select "No journal entry hired" in the first account field. ) MS Show all 4.jpg Q Search C - 2 4 4 0 2/ 3 / 2 123OF Partly sunny -F11 F12 PrtSc Insert Delete ESC C FS $ Backspace Num 8 O 2 5 6 8 W E R U O Home F G H K Enter S DQuestion 5 - Ch 3 Homework - C X Course Hero X M 3aaa - austinwaltergreen@gmail. X M 4 - austinwaltergreen@gmail.cor x + + - C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation.com%252Fconnect%252Fltiwrapper%252FltiaCloseW Ch 3 Homework i Saved Help Sav 5 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.) View transaction list 10 points Journal entry worksheet eBook 2 3 4 6 7 8 9 Print References Raw materials purchased on account, $210,000. Note: Enter debits before credits. Transaction General Journal Debit Credit a Record entry Clear entry View general journal Mc Fraw 4.jpg 1 23'F Q Search Partly sunny PriSo Insert Delete Eso X F4 C FS F7 F9 F10 F11 & Backspace 3 6 2 A 5 8 O P W E RQuestion 5 - Ch 3 Homework - C X Course Hero x M 3aaa - austinwaltergreen@gmail. x M 4 - austinwaltergreen@gmail.cor x- ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation.com%252Fconnect Ch 3 Homework i Saved 5 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.) View transaction list 10 points X eBook 1 Raw materials purchased on account, $210,000. Print References 2 Record the raw materials issued to production, $190,000 ($178,000 direct materials and $12,000 indirect materials). 3 Record the entry for accrued direct labor cost incurred, $90,000; indirect labor cost incurred, $110,000. Credit 4 Depreciation recorded on factory equipment, $40,000. 5 Other manufacturing overhead costs accrued during October, $70,000. 6 The company applies manufacturing overhead cost to Note : = journal entry has been entered Record entry Clear entry View general journal Grav 4.jpg 1 23 F Q Search Partly sunny X PrtSc F1 F2 F3 F4 F6 F7 F8 F9 F10 F11 F12 S O 4 Q W E RQuestion 5 - Ch 3 Homework - C X Course Hero x M 3aaa - austinwaltergreen@gmail. x M 4 - austinwaltergreen@gmail.con x + C ^ ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation.com%252Fconnect%2 Ch 3 Homework i Saved 5 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.) View transaction list 10 points X Book Print 5 Other manufacturing overhead costs accrued during October, $70,000. References 6 The company applies manufacturing overhead cost to production on the basis of $8 per machine-hour. A total of 30,000 machine-hours were recorded for October. 7 Jobs costing $520,000 according to their job cost sheets Credit were completed during October and transferred to Finished Goods. 8 Record the cost of goods sold. 9 Record the sales on account. Note : = journal entry has been entered Record entry Clear entry View general journal 4.jpg 1 23OF Q Search Partly sunny F2 X C F12 Ins F5 F11 PrtSc F4 F6 F7 F9 5 O O W E R OCh 3 Homework - C X Course Hero X M 3aaa - austinwaltergreen@gmail x M 4 - austinwaltergreen@gmail.cor x + ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fconnect.mheducation.com%252Fconnect%252Fltiwrapper%252FltiaClos h 3 Homework i Saved Help 5 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 $42,000. 10 point Complete this question by entering your answers in the tabs below. eBook Required 1 Required 2 Print Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant transactions from above to each account. Compute the ending References balance in each account, assuming that Work in Process has a beginning balance of $42,000. Manufacturing Overhead Work in Process Beg. Bal. End. Bal End. Bal. Hill jpg 23 OF Q Search Partly sunny PrtSc Insert Delete FB F11 F12 FS F6 F7 FZ Backspace S 8 9 O 3 O P W E R