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4 Required information (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. Part 4 of 4 April 30 May 31 Inventories Raw materials $30, 900 59, 090 3.12 Work in process 9, 200 20, 200 points Finished goods 33,900 Activities and information for May 56, 000 8 01:38:52 Raw materials purchases (paid with cash) 197, 000 Factory payroll (paid with cash) 150, 000 Factory overhead Indirect materials 10, 090 Indirect labor 34,500 Other overhead costs 115, 090 Book Sales ( received in cash) Predetermined overhead rate based on direct labor cost 1, 700, 000 55% References 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