[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 $ $39,000 9,100 54,600 38,000 18,70 33,30 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 187,000 150,000 11, 34,500 113,000 2,000,000 55% 1. Raw materials purchases for cash. 2. Direct materials usage. 3. Indirect materials usage. Prepare journal entries for the above transactions for the month of May. Part 1 of 3 1. Raw materials purchases for cash. 2 Direct materials usage. 3. Indirect materials usage. 6.25 points Prepare journal entries for the above transactions for the month of May. 8 02424 View transaction list Hint Journal entry worksheet B Record the entry to assign direct materials to jobs. Note: Enter debits before credits General Journal Debit Credit Transaction 2 Mc Graw HIM Prey 1 2 3 of 8 Ne [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 $ $39,000 9,100 54,600 38,000 18,70 33,30 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 187,000 150,000 11, 34,500 113,000 2,000,000 55% 1. Raw materials purchases for cash. 2. Direct materials usage. 3. Indirect materials usage. Prepare journal entries for the above transactions for the month of May. Part 1 of 3 1. Raw materials purchases for cash. 2 Direct materials usage. 3. Indirect materials usage. 6.25 points Prepare journal entries for the above transactions for the month of May. 8 02424 View transaction list Hint Journal entry worksheet B Record the entry to assign direct materials to jobs. Note: Enter debits before credits General Journal Debit Credit Transaction 2 Mc Graw HIM Prey 1 2 3 of 8 Ne