52.252 ms.mheducation.com%252Fmghmid * Chapters 14 and 15 Saved Help Save & Exit s 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 $ 5:43 $49,500 11,5ee 69,5ee 65,eee 23,980 48,600 Inventories Raw materials Work in process Finished goods 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 223, eee 371, eee 28,000 93,000 133,eee 1,530,000 80% Determine whether there is over or underapplied overhead. Prepare the journal entry to allocate (close) overapplied or underapplied overhead to Cost of Goods Sold. Complete this question by entering your answers in the tabs below. Overhead Absorption General Journal Determine whether there is over or underapplied overhead. Factory Overhead