of 4 Required information [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 Finished goods 7:32 Inventories Raw materials Work in process Activities and information for May $32,000 $ 40,000 9,100 20,200 52,000 33,000 Raw materials purchases (paid with cash) 175,000 Factory payroll (paid with cash) 100,000 Factory overhead Indirect materials 13,000 Indirect labor 23,000 es Other overhead costs 103,000 Sales (received in cash) 1,500,000 Predetermined overhead rate based on direct labor cost 55% 1. Incurred other overhead costs (record credit to Other Accounts). 2. Applied overhead to work in process.