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. 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 Other overhead costs Indirect labor Sales (received in cash) Predetermined overhead rate based on direct Tabor cost 68,000 April 30 May 311 $38,000 $ 34,000 9,200 18,900 34,000 175,000 250,000 12,000 57,500 111,000 1,900,000 55% Incurred other overhead costs (record credit to Other Accounts). Application of overhead to work in process. repare journal entries for the above transactions for the month of May. View transaction B