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 Work in process Finished goods 35,000 34,000 20,500 33,200 9,800 59,000 Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead 193,000 310,000 Indirect materials Indirect labor Other overhead costs 16,000 74,000 94,500 1,200,000 Sales (received in cash) Predetermined overhead rate based on direct labor cost 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. View transaction list View journal entry worksheet No Transaction General Journal Debit Credit Raw materials inventory 193,000 Cash 193,000 Work in process inventory Raw materials inventory Determine whether there is over or underapplied overhead Factory Overhead Journal entry worksheet Record entry to allocate (close) underapplied/overapplied overhead to cost of goods sold. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal