Chapter 15

! Required information [The following information applies to the questions displayed below) 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 $ $34,000 9,900 69,000 32,000 19,800 33,700 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined overhead rate based on direct labor cost 189,000 100,000 8,000 23,000 95,500 1,100,000 55% 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. View transaction list Prepare journal entries for the above transactions for the month of May. View transaction list Journal entry worksheet A B Record raw material purchases for cash. Note: Enter debits before credits Transaction General Journal Dobit Credit Record entry Clear entry View general journal Alavt OTTO te se Required Information Prepare journal entries for the above transactions for the month of May, View transaction list Journal entry worksheet A B Record the entry to assign direct materials to jobs. Note Enter debits before credits Transaction General Journal Dobit Credit 2 Record entry Clear entry View general journal Prepare journal entries for the above transactions for the month of May. View transaction list Journal entry worksheet