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 $ $42,000 9,900 64,000 41,000 18,800 33,500 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 Indirect labor Other overhead costs Sales (received in cash) Predetermined overhead rate based on direct labor cost 194,000 250,000 18,000 57,500 104,000 1,500,000 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. Answer is not complete. No Transaction General Journal Debit Credit 1 1 Factory overhead 104.000 Other accounts 104,000 2 2 Work in process inventory Factory overhead