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[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

[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 $ 43,000 $ 35,000
Work in process 9,700 19,800
Finished goods 52,000 33,300
Activities and information for May
Raw materials purchases (paid with cash) 181,000
Factory payroll (paid with cash) 100,000
Factory overhead
Indirect materials 18,000
Indirect labor 23,000
Other overhead costs 119,500
Sales (received in cash) 1,200,000
Predetermined overhead rate based on direct labor cost 55 %

Raw materials purchases for cash.

Direct materials usage.

Indirect materials usage.

Prepare journal entries for the above transactions for the month of May.

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