equired information Use the following information to an The blowing an applies to the questions played below The following informacon is available for Lod-The Company, which produces speca order secury products and uses a job order casting system $47. ON S T . 20.00 66, Inventories Rawaterials 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 180,- 200,00 10.ee 46. ee 112.se 1,100.se 554 Exercise 19-7 Cost flows in a job order costing system LO P1, P2, P3, P4 Compute the following amounts for the month of May using T-accounts. Cost of direct materials used. 2. Cost of direct labor used 3. Cost of goods manufactured 4. Cost of goods sold." 5. Gross pront 6. Overapplied or underapplied overhead. "Do not consider any underapplied or overapplied overhead. Raw Materials (RM) Required Information Use the following Information to a wer questions [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. $47,000 9,500 66,000 47,098 20,908 34,820 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 180,098 200,000 10, see 46,000 112,500 , 108, see 554 Exercise 19-8 Journal entries for materials LO P1 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 Journal entry worksheet