$ 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 $32,000 35,000 Work in process 10,000 20,500 Finished goods 58,000 34,400 Activities and information for May Raw materials purchases (paid with cash) 185,000 Factory payroll (paid with cash) 200,000 Factory overhead Indirect materials 17,000 Indirect labor 46,000 Other overhead costs 98,500 Sales (received in cash) 1,700,000 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. Prepare journal entries for the above transactions for the month of May. View transaction list Journal entry worksheet