! 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 $50,000 9,700 56,000 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predeternined overhead rate based on direct labor cost May 31 $ 44,000 19, 3e0 34,300 170,000 200,000 13,000 46,000 113,000 1,300,000 559 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 Journal entry worksheet Record raw material purchases for cash. Note: Enter debits before credits Transaction Dobit Credit 1 General Journal Raw materials inventory Cash Record entry Clear entry View general Journal Journal entry worksheet Record the entry to assign indirect materials to jobs. Note: Enter debits before credits. Transaction Debit Credit General Journal Factory overhead Raw materials inventory Record entry Clear entry View general journal S 8 RA