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 $ $43,000 10,200 63,000 52,000 21,300 35,600 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 210,000 345,000 15,000 80,000 120,000 1,400,000 708 es Exercise 15-9 Journal entries for labor LO P2 1. Direct labor usage. 2. Indirect labor usage. 3. Total payroll paid in cash. Prepare journal entries for the above transactions for the month of May. View transaction list X Check my work 3 Predetermined overhead rate based on direct labor cost 708 Part 2 of 3 Exercise 15-9 Journal entries for labor LO P2 2.5 points 1. Direct labor usage. 2. Indirect labor usage. 3. Total payroll paid in cash. Prepare journal entries for the above transactions for the month of May. eBook View transaction list Hint X Print A Record the entry for direct labor usage. > B Record the entry for indirect labor usage. References factory Record the entry for the cash payment payroll. Credit 21,300 Note := journal entry has been entered Record entry Clear entry View general Journal Mc Graw Hill Chap 15-HW A Saved Help Save & Exit Submit Check my work 4. Sales (received in cash) Predetermined overhead rate based on direct labor cost 1,400,000 70% Part 3 of 3 Exercise 15-10 Journal entries for overhead LO P3 2.5 points 1. Incurred other overhead costs (record credit to Other Accounts). 2. Applied overhead to work in process. Skipped Prepare journal entries for the above transactions for the month of May. View transaction list eBook Hint > A Record other Factory overhead costs (excluding indirect materials and indirect labor). Record credit to Other Accounts. Print I indirect B Record the application of overhead to work in process. References Credit Note : = journal entry has been entered Record entry Clear entry View general Journal S Mc Graw Hill