[Discussion] Manuscript Polish

I tried going through the wiki but couldn’t find the answer to what feels like a very basic question, but I’m nearing the end of my first draft of a manuscript I’ve been working on, and the idea of copy-editing the mountain of slop I put together seems more daunting than the actual process of writing it.

2 questions:

1. How polished should fiction manuscripts be when submitting to agents/publishers? I’ve seen vague mentions about typos and drafting errors hurting the query process but I was never sure if that was in reference to just the query letters, or applied to the manuscripts themselves.

2. For my day job I do a lot of writing, and usually my time is 2/3 writing and 1/3 editing, but sometimes the majority of my time is spent editing before I have something workable. Is that the level of editing I need to have on my manuscript before I submit?