The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 $ 9,500 63,000 54,000 20,600 34,100 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 196,000 200,000 16,000 46,000 118,000 1,200,000 55% 1. Direct labor usage. 2. Indirect labor usage 3. Total payroll paid in cash. Prepare journal entries for the above transactions for the month of May. Factory wages payable 395,600 200,000 Factory wages payable Cash 200,000 Answer is complete but not entirely correct. No Transaction Credit General Journal Work in process inventory Factory wages payable Debit 154,000 154,000 168,000 Factory overhead Factory wages payable 395,600 Factory wages payable 200,000 Cash 200,000