The Polaris Company uses a job-order costing system

The Polaris Company uses a job-order costing system. The following data relate to October, the first month of the company's fiscal year. a. Raw materials purchased on account, $210,000. b. Raw materials issued to production, $189,000 ($151,200 direct materials and $37,800 indirect materials). c. Direct labor cost incurred, $50,000; indirect labor cost incurred, $21,000. d. Depreciation recorded on factory equipment, $105,000. e. Other manufacturing overhead costs incurred during October, $130,000 (credit Accounts Payable). f. The company applies manufacturing overhead cost to production on the basis of $7 per machine-hour. A total of 76,400 machine-hours were recorded for October. g. Production orders costing $511,000 according to their job cost sheets were completed during october and transferred to Finished Goods. h. Production orders that had cost $448,000 to complete according to their job cost sheets were shipped to customers during the month. These goods were sold on account at 28% above cost. Required: 1. Prepare journal entries to record the information given above. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 9 Raw materials purchased on account, $210,000. Note: Enter debits before credits. Transaction General Journal Debit Credit a.
Raw materials issued to production, $189,000 ($151,200 direct materials and $37,800 indirect materials). Note: Enter debits before credits. Transaction General Journal Debit Credit b. Record entry Clear entry View general journal
Direct labor cost incurred, $50,000; indirect labor cost incurred, $21,000. Note: Enter debits before credits. Transaction General Journal Debit Credit C. Record entry Clear entry View general journal
Depreciation recorded on factory equipment, $105,000. Note: Enter debits before credits. Transaction General Journal Debit Credit d. Record entry Clear entry View general journal
Other manufacturing overhead costs incurred during October, $130,000 (credit Accounts Payable). Note: Enter debits before credits. Transaction General Journal Debit Credit e. Record entry Clear entry View general journal
The company applies manufacturing overhead cost to production on the basis of $7 per machine-hour. A total of 76,400 machine-hours were recorded for October Note: Enter debits before credits. Transaction General Journal Debit Credit f. Record entry Clear entry View general journal

Record the cost of goods sold. Note: Enter debits before credits. Transaction General Journal Debit Credit h(1). Record entry Clear entry View general journal
Record the sales on account. Note: Enter debits before credits. Transaction General Journal Debit Credit h(2) Record entry Clear entry View general journal
2. Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant information above to each account. Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $34,000. Manufacturing Overhead Work in Process Beg. Bal. Beg. Bal. End. Bal. End. Bal.