! 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 $43,000 $ 57,000 Work in process 9,800 18,100 Finished goods 61,000 33,300 Activities and information for May Raw materials purchases (paid with cash) 196,000 Factory payroll (paid with cash) 100,000 Indirect labor Factory overhead Indirect materials Other overhead costs Sales (received in cash) Predetermined overhead rate based on direct labor cost 12,000 23,000 90,500 1,400,000 55% 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.