0 The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system April 30 May 31 Inventories Raw materials $34,000 $ 35,000 Work in process 9.500 20,400 Finished goods 66,000 34,400 Activities and information for May Raw materials purchases (paid with cash) 183,000 Factory payroll (paid with cash) 200, eee Factory overhead Indirect materials 6,000 Indirect labor 46,000 Other overhead costs 109,500 Sales (received in cash) 1,500,000 Predetermined overhead rate based on direct labor cost 559 Exercise 15-8 Journal entries for materials LO P1 1. Raw materials purchases for cash. 2. Direct materials usage. 3. Indirect materials usage. Prepare journal entries for the above transactions for the month of May, 1. Raw materials purchases for cash. 2. Direct materials usage. 3. Indirect materials usage. Prepare journal entries for the above transactions for the month of May. No Transaction Debit Credit 1 183,000 Answer is not complete. General Journal Raw materials inventory Cash Work in process inventory Raw materials inventory Work in process inventory Cash 183,000 182,000 182,000 200,000 200,000 B 2 52,000 Factory overhead Raw materials inventory Factory payroll Factory overhead Accounts payable Cash 6,000 46,000 x 109,500 109,500 1,500,000 3 3 1,500,000 & Other accounts Work in process inventory Factory overhead X 6,000 6,000