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 8,800 23,000 95,500 1,100,000 554 1. Incurred other overhead costs (record credit to Other Accounts) 2. Applied overhead to work in process. 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 Record the application of overhead to work in process. Note: Enter debits before credits. Transaction General Journal Dobit Credit 2 Record entry Clear entry View general journal