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Please help with the following journal entries: Required information [The following information applies to the questions displayed below.] The following information is available for Lock-Tite

Please help with the following journal entries:

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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 Inventories Raw materials $28, 000 S 41, 000 Work in process 9, 200 20, 600 Finished goods 67,000 34, 000 Activities and information for May Raw materials purchases (paid with cash) 173, 000 Factory payroll (paid with cash) 150, 000 Factory overhead Indirect materials 13, 000 Indirect labor 34, 500 Other overhead costs 96, 500 Sales (received in cash) 1, 700,000 Predetermined overhead rate based on direct labor cost 550 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. View transaction list Journal entry worksheet 2 Record other Factory overhead costs (excluding indirect materials and indirect labor). Record credit to Other Accounts

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