#"Oxidation reaction (i):"#
#Fe^(2+) rarr Fe^(3+) + e^-#
#"Reduction reaction (ii):"#
#MnO_4^(-) + 8H^(+) + 5e^(-) rarr Mn^(2+) + 4H_2O(l)#
For both #(i)# and #(ii)#, #"charge is balanced"# and #"mass is balanced"#, as indeed they must be if we purport to represent chemical reality. The final redox reaction adds #5xx(i)+(ii)# so that electrons, conceptual particles, do not appear in the final redox equation:
#MnO_4^(-) + 5Fe^(2+) +8H^(+)rarr Mn^(2+) + 5Fe^(3+) +4H_2O(l)#
Which is balanced (is it?) with respect to mass and charge. The reaction has a built in indicator in that #MnO_4^-# in intensely purple, whereas the reduction product #Mn^(2+)# is almost colourless. An endpoint could be vizualized.