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The Polaris Company uses a job-order costing system- The following tra (2).docx

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, $188 , 000 ( $150 , 400 direct materials and $37 , 600 indirect materials). c. Accrued direct labor cost of $50 , 000 and indirect labor cost of $21 , 000 . d. Depreciation recorded on factory equipment, $104 , 000 . e. Other manufacturing overhead costs accrued during October, $130 , 000 . f. The company applies manufacturing overhead cost to production using a predetermined rate of $7 per machine-hour. A total of 76,300 machine-hours were used in October. 9. Jobs costing $512 , 000 according to their job cost sheets were completed during October and transferred to Finished Goods. h. Jobs that had cost $449 , 000 to complete according to their job cost sheets were shipped to customers during the month. These jobs were sold on account at 20% above cost. Required: 1. Prepare joumal 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 $34 , 000 . Complete this question by entering your answers in the tabs below. 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.) Requlred: 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 $34 , 000 . Complete this question by entering your answers in the tabs below. Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant transactions from above to each account. Compute th each account, assuming that Work in Process has a beginning balance of $34 , 000 . .

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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, $188 , 000 ( $150 , 400 direct materials and $37 , 600 indirect materials). c. Accrued
direct labor cost of $50 , 000 and indirect labor cost of $21 , 000 . d. Depreciation recorded on
factory equipment, $104 , 000 . e. Other manufacturing overhead costs accrued during October,
$130 , 000 . f. The company applies manufacturing overhead cost to production using a
predetermined rate of $7 per machine-hour. A total of 76,300 machine-hours were used in
October. 9. Jobs costing $512 , 000 according to their job cost sheets were completed during
October and transferred to Finished Goods. h. Jobs that had cost $449 , 000 to complete
according to their job cost sheets were shipped to customers during the month. These jobs were
sold on account at 20% above cost. Required: 1. Prepare joumal 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 $34 , 000 . Complete this question by
entering your answers in the tabs below. 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.) Requlred: 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 $34 , 000 . Complete this question by entering
your answers in the tabs below. Prepare T-accounts for Manufacturing Overhead and Work in
Process. Post the relevant transactions from above to each account. Compute th each account,
assuming that Work in Process has a beginning balance of $34 , 000 .
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  • 1. 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, $188 , 000 ( $150 , 400 direct materials and $37 , 600 indirect materials). c. Accrued direct labor cost of $50 , 000 and indirect labor cost of $21 , 000 . d. Depreciation recorded on factory equipment, $104 , 000 . e. Other manufacturing overhead costs accrued during October, $130 , 000 . f. The company applies manufacturing overhead cost to production using a predetermined rate of $7 per machine-hour. A total of 76,300 machine-hours were used in October. 9. Jobs costing $512 , 000 according to their job cost sheets were completed during October and transferred to Finished Goods. h. Jobs that had cost $449 , 000 to complete according to their job cost sheets were shipped to customers during the month. These jobs were sold on account at 20% above cost. Required: 1. Prepare joumal 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 $34 , 000 . Complete this question by entering your answers in the tabs below. 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.) Requlred: 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 $34 , 000 . Complete this question by entering your answers in the tabs below. Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant transactions from above to each account. Compute th each account, assuming that Work in Process has a beginning balance of $34 , 000 .