ses 0 Saved 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 301- May 31. Inventories Raw materials Work in process8 Finished goods $43,000 10,200 63,000 52,000 21,300 35,600 Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead 210,000 345,000 Indirect materials Indirect labor Other overhead costs 15,000 80,000 120,000 1,400,000 Salen (received in cash) Predetermined overhead rate based on direat labor cost 70% Exercise 15-10 Journal entries for overhead LO P3 1. Incurred other overhead costs (record credit to Other Accounts) 2. Application of overhead to work in process