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 $ $ 42,000 9,900 55,000 51,000 19,100 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 193,000 100,000 15,000 23,000 95,500 1,600,000 55% Exercise 19-10 Journal entries for overhead LO P3 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