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 $49,000 $ 64,000 Work in process 11,400 Finished goods 23,700 69,000 Activities and information for May 47,600 Raw materials purchases (paid with cash) 222,000 Factory payroll (paid with cash) 369,000 Factory overhead Indirect materials 27,000 Indirect labor Other overhead costs 92,000 132,000 Sales (received in cash) 1,520,000 Predetermined overhead rate based on direct labor cost 704 Determine whether there is over or underapplied overhead. Prepare the journal entry to allocate (close) overapplied or underapplied overhead to Cost of Goods Sold. Answer is not complete. Complete this question by entering your answers in the tabs below. Overhead General Absorpti... Journal Determine whether there is over or underapplied overhead. Factory Overhead Indirect materials 27,000x Applied overhead Indirect labor 92,000) Other overhead 119,000 costs (Overhead Absorption General Journal >