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Please help, will hit like. Thank you. Required information [The following information applies to the questions displayed below.] The following information is available for Lock-Tite
Please help, will hit like. Thank you.
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 $ 30,000 $ 9,300 67,000 47,000 20, 109 33,500 185,000 109,000 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroli (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined overhead rate based on direct labor cost 7,000 23,000 119,500 1,100,000 55% 1. Incurred other overhead costs (record credit to Other Accounts), 2. Applied overhead to work in process. Prepare jourriol entries for the above transactions for the month of May. 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 B Record other factory overhead costs (excluding indirect materials and indirect labor). Record credit to Other Accounts. Tote Enter cebits before credits. Transaction General Journal Debit Credit taStep by Step Solution
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