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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 Inventories Raw materials $49,000 53,000 Work in process 9,903 21,000 Finished goods 56,000 33,100 Activities and information for May Raw materiale purchases (paid with canh) 174,000 Factory payroll (paid with caah) 100,000 Factory overhead Indirect materials 10,000 Indireos labor 23,000 Other overhead costs 108,500 Sales (received in cash) 1,300,000 Predetermined overhead rate based on direct labor cost 55 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 Inventories Raw materials $49,000 53,000 Work in process 9,903 21,000 Finished goods 56,000 33,100 Activities and information for May Raw materiale purchases (paid with canh) 174,000 Factory payroll (paid with caah) 100,000 Factory overhead Indirect materials 10,000 Indireos labor 23,000 Other overhead costs 108,500 Sales (received in cash) 1,300,000 Predetermined overhead rate based on direct labor cost 55
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