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 $ $ 25,000 9,500 56,000 50,000 18,500 33,700 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 177,000 150,000 17,000 34,500 96,500 1,300,000 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. View transaction list Journal entry worksheet Record other Factory overhead costs (excluding indirect materials and indirect labor). Record credit to Other Accounts. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal View transaction list Journal entry worksheet Record the application of overhead to work in process. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Record entry Clear entry View general journal