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Check my work mode: This shows what is correct or incorrect for the work i ne following information is available for LOCK-lite Company, which produces
Check my work mode: This shows what is correct or incorrect for the work i ne following information is available for LOCK-lite Company, which produces special order security products ar job order costing system. April 30 $ 5 $43,000 10,200 63,000 May 31 52,eee 21,3ee 35,6ee 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 210,000 345.000 15,000 80,000 120,00 1.400,000 70% 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 Answer is complete but not entirely correct. No Transaction Det Credit 1 1 General Journal Work in process inventory Factory wages payable 31.500 31.500 2 2 80.000 Factory overhead Factory wages payable 80.000 3 345,000 Factory wages payable Cash 345.000
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