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Use the following information to answer 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. April 30 May 31 Inventories Raw materials $ 48, 060 $ 37,600 Work in process 9, 200 18, 500 Finished goods 68, 060 33,900 Activities and information for May Raw materials purchases (paid with cash) 176,000 Factory payroll (paid with cash) 250,060 Factory overhead Indirect materials 16,000 Indirect labor 57, 500 Other overhead costs 96,060 Sales (received in cash) 1, 700,008 Predetermined overhead rate based on direct labor cost 55% Exercise 15-8 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 MayeBook Exercise 15-9 Journal entries for labor LO P2 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 MayExercise 15-10 Journal entries for overhead LO P3 1. Incurred other overhead costs (record credit to Other Accounts). 2. Application of overhead to work in process. Prepare journal entries for the above transactions for the month of May