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 $ 48,000 $ 54,000 Work in process 9,700 18,600 Finished goods 57,000 34,300 Activities and information for May Raw materials purchases (paid with cash) 173,000 Factory payroll (paid with cash) 200,000 Factory overhead Indirect materials 13,000 Indirect labor 46,000 Other overhead costs 106,500 Sales (received in cash) 1,900,000 Predetermined overhead rate based on direct labor cost 55 % Compute the following amounts for the month of May using T-accounts. Cost of direct materials used. Cost of direct labor used. Cost of goods manufactured. Cost of goods sold.* Gross profit. Overapplied or underapplied overhead.

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	$	48,000			$	54,000
Work in process		9,700				18,600
Finished goods		57,000				34,300
Activities and information for May
Raw materials purchases (paid with cash)						173,000
Factory payroll (paid with cash)						200,000
Factory overhead
Indirect materials						13,000
Indirect labor						46,000
Other overhead costs						106,500
Sales (received in cash)						1,900,000
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.

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	$	48,000			$	54,000
Work in process		9,700				18,600
Finished goods		57,000				34,300
Activities and information for May
Raw materials purchases (paid with cash)						173,000
Factory payroll (paid with cash)						200,000
Factory overhead
Indirect materials						13,000
Indirect labor						46,000
Other overhead costs						106,500
Sales (received in cash)						1,900,000
Predetermined overhead rate based on direct labor cost						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.

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	$	48,000			$	54,000
Work in process		9,700				18,600
Finished goods		57,000				34,300
Activities and information for May
Raw materials purchases (paid with cash)						173,000
Factory payroll (paid with cash)						200,000
Factory overhead
Indirect materials						13,000
Indirect labor						46,000
Other overhead costs						106,500
Sales (received in cash)						1,900,000
Predetermined overhead rate based on direct labor cost						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.

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	$	48,000			$	54,000
Work in process		9,700				18,600
Finished goods		57,000				34,300
Activities and information for May
Raw materials purchases (paid with cash)						173,000
Factory payroll (paid with cash)						200,000
Factory overhead
Indirect materials						13,000
Indirect labor						46,000
Other overhead costs						106,500
Sales (received in cash)						1,900,000
Predetermined overhead rate based on direct labor cost						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.

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	$	48,000			$	54,000
Work in process		9,700				18,600
Finished goods		57,000				34,300
Activities and information for May
Raw materials purchases (paid with cash)						173,000
Factory payroll (paid with cash)						200,000
Factory overhead
Indirect materials						13,000
Indirect labor						46,000
Other overhead costs						106,500
Sales (received in cash)						1,900,000
Predetermined overhead rate based on direct labor cost						55	%

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.