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 $ $48,000 11,200 68,000 62,000 23, 30e 45,60e 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 220,000 365,000 25,000 90,000 130,000 1,500,000 BOX Determine whether there is over or underapplied overhead Prepare the journal entry to allocate (close) overapplied or underapplied overhead to Cost of Goods Sold, Complete this question by entering your answers in the tabs below. Prepare the journal entry to allocate (close) overapplied or underapplied overhead to Cost of Goods Sold. Complete this question by entering your answers in the tabs below. Overhead Absorption General Journal Determine whether there is over or underapplied overhead. Factory Overhead Glyperal Journal > Journal entry worksheet >