Required information (The following information applies to the questions displayed below.) of 4 The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. May 31 $ 51,000 20,700 33,900 April 30 Inventories Raw materials $ 27,000 Work in process 9,700 Finished goods 51,000 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) Predetermined overhead rate based on direct labor cost 195,000 250,000 ces 7,000 57,500 90,500 1,400,000 55% 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