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 $ $42,000 9,700 59,000 50,000 18,800 33,200 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 171,000 200,000 10,000 46,000 99,500 1,200,000 555 Exercise 19-9 Journal entries for labor LO P2 1. Direct labor usage. 2. Indirect labor usage. 3. Total payroll paid in cosh. Prepare journal entries for the above transactions for the month of May. 1. Incurred other overhead costs (record credit to Other Accounts). 2. Application of overhead to work in process. Prepare journal entries for the above transactions for the month of May