8 Required information Use the following information to answer questions [The following information applies to the questions displayed below.] Part 3 of 4 The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. 4 April 30 May 31 points Inventories Raw materials $46 , 000 $ 30, 000 Work in process 9 , 000 20 , 100 Finished goods 51 , 000 34 , 900 Activities and information for May eBook Raw materials purchases (paid with cash) 181 , 000 Factory payroll (paid with cash) 250, 000 Factory overhead Indirect materials 15 , 000 Hint Indirect labor 57 , 500 Other overhead costs 119 , 500 Sales (received in cash) 1, 200, 000 Predetermined overhead rate based on direct labor cost 55 8 References Exercise 15-9 Journal entries for labor LO P2 1. Direct labor usage. 2. Indirect labor usage. 3. Total payroll paid in cash. Prepare journal entries for the above transactions for the month of May. View transaction list Mc Graw Hill Chapter 15 Homework i Saved Help Exercise 15-10 Journal entries for overhead LO P3 Part 4 of 4 1. Incurred other overhead costs (record credit to Other Accounts). 2. Applied overhead to work in process. 4 Prepare journal entries for the above transactions for the month of May. points View transaction list eBook Journal entry worksheet Hint A B References Record other Factory overhead costs (excluding indirect materials and indirect labor). Record credit to Other Accounts. Note: Enter debits before credits. Transaction General Journal Debit Credit