The Polaris Company uses a job-order costing system. The following data relate to October, the first month of the company’s fiscal year.

Raw materials purchased on account $210,000.
Raw materials used to production, $190,000 ($178,000 direct materials amd $12,000 indirect materials).
Direct labor cost incurred, $90,000; indirect labor cost incurred, $110,00.
Depreciation recorded on factory equipmentnt, $40,000.
Other manufacturing overhead costs incurred during October, $70,000 (credit Accounts Payable).
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.
Production orders costing $520,00 according to their job cost sheets were completed during October and transferred to Finished Goods.
Production orders that had cost $480,000 to complete according to their job cost sheets were shipped to customers during the month. These goods were sold on account at 25% above cost.

Required: 1. Prepare journal entries to record the information given above.

Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant information about to each account. Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $42,000.