The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. May 31 $ 37,000 18,800 33,400 April 30 Inventories Raw materials $49,000 Work in process 9,200 Finished goods 66,000 Activities and information for May Raw materials purchases (paid with 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 cash) 176,000 200,000 15,000 46,000 111,500 1,800,000 55% Exercise 19-8 Journal entries for materials LO P1 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 Journal entry worksheet Record raw material purchases for cash. Note: Enter debits before credits. General Journal Debit Credit Transaction 1 Record entry View general journal clear entry The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. May 31 $ 37,000 18,800 33,400 April 30 Inventories Raw materials $49,000 Work in process 9,200 Finished goods 66,000 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 176,000 200,000 15,000 46,000 111,500 1,800,000 55% Exercise 19-9 Journal entries for labor LO P2 1. Direct labor usage. 2. Indirect labor usage. . Total payroll paid in cash. Prepare journal entries for the above transactions for the month of May. View transaction list Journal entry worksheet Record the entry for direct labor usage. Note: Enter debits before credits. General Journal Debit Credit Transaction 1 Record entry View general journal Clear entry Use the following information to answer questions [The following information applies to the questions displayed below.) The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. May 31 $ 37,000 18,800 33,400 April 30 Inventories Raw materials $49,000 Work in process 9,200 Finished goods 66,000 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 176,000 200,000 15,000 46,000 111,500 1,800,000 55% Exercise 19-10 Journal entries for overhead LO P3 1. Incurred other overhead costs (record credit to Other Accounts). 2. Applied overhead to work in process. Prepare journal entries for the above transactions for the month of May. View transaction list Journal entry worksheet Record other factory overhead costs (excluding indirect materials and indirect labor). Record credit to other Accounts Note: Enter debits before credits. General Journal Debit Credit Transaction 1 Record entry View general journal Clear entry