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 $ 47,000 $ 57,000 Work in process 9,600 19,200 Finished goods 55,000 33,800 Activities and information for May Raw materials purchases (paid with cash) 191,000 Factory payroll (paid with cash) 250,000 Factory overhead Indirect materials 11,000 Indirect labor 57,500 Other overhead costs 96,000 Sales (received in cash) 1,600,000 Predetermined overhead rate based on direct labor cost 55 % Exercise 15-9 Journal entries for labor LO P2 Direct labor usage. Indirect labor usage. Total payroll paid in cash. Prepare journal entries for the above transactions for the month of May.