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i will give thumbs up The following information applies to the questions displayed below.] The following information is available for Lock-Tite Company, which produces special
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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 3 May 31 $ $ 29,000 9,200 65,000 45,000 19,100 30,400 Inventories Raw materials Work in process Finished goods Activities and information for Hay 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 187,000 200,000 7.000 46,000 107,000 1,200,000 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 May. View transaction list Journal entry worksheet Record raw material purchases for cash. Saved Required information Journal entry worksheet Step by Step Solution
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