Exercise 19-13 Adjusting factory overhead LO P4 The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. Inventories Raw materials Work in process Finished goods $53,800 % 72,000 25, 380 55,680 12,200 73,880 Activities and information for May Rau materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead 238,880 85,888 Indirect materials Indirect labor Other overhead costs 35,888 100,99 sales (received in cash) Predetermined overhead rate based on direct labor cost 1,669,889 Determine whether there is over or underapplied overhead Prepare the journal entry to allocate (close) overapplied or underapplied overhead to Cost of Goods Sold Journal entry worksheet Record entry to allocate (dose) underapplied/overapplied overhead to cost of goods sold. debits before Recond entry Clew entry