Question Completion Status: QUESTION 2 Question to (10 points) The Polaris Company uses a job onder conting system. The following data relate to October, the first month of the company's focal year Raw materials purchased on account, 5420,000 h. Raw materials inued to production, $380,000 (5356,000 direct materials and $24,000 indirect materials). c. Direct labor cost incurred, S180,000; indirect labor cost incurred for production, 5220,000 d. Depreciation recorded on factory equipment, S80,000 Other manufacturing overhead costs incurred during October, 5140,000 (credit Accounts Payable) 1. The company applies manufacturing overhead cost to production on the basis of 58 per machine-hour. A total of 60,000 machine hours were recorded for October & Production orders costing $1,040,000 according to their job cost sheets were completed during October and transferred to Finished Good Production orders that had cost $960,000 to complete according to their job cost sheets were shipped to customers during the month. These goods were sold on account 2996 above cost Required: Prepare journal entries to record the information given above. Work in Process has a beginning balance of 584,000 Dr. Cr