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 $27,000 $ 51,000 Work in process 9,600 20,100 Finished goods 65,000 34,700 Activities and information for May Raw materials purchases (paid with cash) 193,000 Factory payroll (paid with cash) 250,000 Factory overhead Indirect materials 8,000 Indirect labor 57,500 Other overhead costs 111,500 Sales (received in cash) 1,100,000 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 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 A they Record the application of overhead to work in process. Note: Enter debits before credits. Debit Credit General Journal Transaction 2 Record entry Clear entry View general journal