Cost Accounting: The Polaris Company uses a job-order costing system. The following transactions

The Polaris Company uses a job-order costing system. The following transactions occurred in October:

Raw materials purchased on account, $211,000.
Raw materials used in production, $190,000 ($152,000 direct materials and $38,000 indirect materials).
Accrued direct labor cost of $49,000 and indirect labor cost of $22,000.
Depreciation recorded on factory equipment, $106,000.
Other manufacturing overhead costs accrued during October, $131,000.
The company applies manufacturing overhead cost to production using a predetermined rate of $9 per machine-hour. A total of 76,500 machine-hours were used in October.
Jobs costing $513,000 were completed and transferred to Finished Goods.
Jobs costing $450,000 were shipped to customers. These jobs were sold on account at 24% above cost.
Required:
Prepare journal entries to record the transactions given above.
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 Work in Process has a beginning balance of $35,000.

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