https://ezto.mheduce Saved d Exercises 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 $31,000 $ 59,000 Work in process 9,800 20,600 Finished goods 65,000 34,500 Activities and Information for May Raw materials purchases (paid with cash) 172,000 Factory payroll (paid with cash) 150,000 Factory overhead Indirect materials Indirect labor 7,000 34,500 Other overhead costs 92,500 Sales (received in cash) Predetermined overhead rate based on direct labor cost 1,800,000 55% 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 Journal entry worksheet >