You are supposed to prepare journal entries for the transactions for the month of May

Required information 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. April 30 May 31 $ $ 29,000 9,600 61,000 33,000 20,400 33,200 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Pactory overhead Indirect materials Indirect labor Other overhead coats Sales (received in cash) Predetermined overhead rate based on direct labor cost 173,000 200,000 13,000 46,000 107,500 1,700,000 558 Exercise 15-10 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 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. Transaction General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet A B B Record the application of overhead to work in process. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Record entry Clear entry View general journal