Ch 2 question 6The following information is available for Lock-tite company, which produces special-order security products and uses a job order costing system

Saved Help Save & CH 6 Inventories Raw materials $ 45, 000 $ 37,000 Work in process 9,000 19, 300 Finished goods 59, 000 33, 700 Activities and information for May art 2 of 4 Raw materials purchases (paid with cash) 173,000 Factory payroll (paid with cash) 250, 000 Factory overhead Indirect materials 8,000 Indirect labor 57,500 Other overhead costs 100, 000 ints Sales (received in cash). 1, 200, 000 Predetermined overhead rate based on direct labor cost 55% eBook Hint 1. Raw materials purchases for cash. Print 2. Direct materials usage. 3. Indirect materials usage. Prepare journal entries for the above transactions for the month of May