The following information is available for Lock-Tite Company, which produces special-order security products and uses a Job order costing system Apr 30 May 31 $ $43,000 10,200 63,000 52,000 21,300 35,600 Inventories Raw materials Work in process Pinished goods Motivities and Information for May Raw material purchases (paid with canh) Factory payroll (paid with cash) Tactory overhead Indirect materials Indirect labor Other overhead cost Sales (received in canh) Predetermined overhead rate based on direot labor cont 210,000 345,000 15,000 80,000 120,000 1,400,000 705 Determine whether there is over or underopplied 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. Overhead Absorption General Journal Determine whether there is over or underapplied overhead. Indirect materials indirect labor Other overhead costs factory overband 16,000 120,000 Other overhead costs 80,000 186,600 Overapplied overhead 210,600 General Journal