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 360 Inventories Raw materials Work in process Finished goods $39,000 9,700 69,000 $ 41,000 19, 500 33,400 Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead 180,000 100,000 Indirect materials Indirect labor Other overhead costs 18,000 23,000 97,500 1,700,000 Sales (received in cash) Predetermined overhead rate based on direct labor cost 55% . Incurred other overhead costs (record credit to Other Accounts) 2. Application of overhead to work in process Journal entry worksheet 2 Record other Factory overhead costs (excluding indirect materials and indirect labor). Record credit to Other Accounts. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet 2 Record the application of overhead to work in process. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal