Required information Use the following information to answer questions (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 $ $40,000 9,500 57,000 34,000 18,480 34,800 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 171,000 200,000 12,000 46,000 112,500 2,000,000 55% Exercise 19-8 Journal entries for materials LO P1 1. Raw materials purchases for cash. 2. Direct materials usage. 3. Indirect materials usage. Prepare journal entries for the above transactions for the month of May. View transaction list Journal entry worksheet B > Record raw material purchases for cash. Ninte: Enter debite hefnre credite Required information Journal entry worksheet B > Record raw material purchases for cash. Note: Enter debits before credits. Transaction General Journal Debit Credit CD Journal entry worksheet Required information Journal entry worksheet A B Record the entry to assign indirect materials to jobs. Note: Enter debits before credits. Transaction General Journal Debit Credit 3 Prow 2 11 Nout