mework Saved Help Save & Exit required LUI 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 Inventories Raw materials $ 29, eee $ 58,000 Work in process 9,780 18,700 Finished goods 63, eee 33,200 Activities and information for May Raw materials purchases (paid with cash) 176,000 Factory payroll (paid with cash) 188,888 Factory overhead Indirect materials 8 , Indirect labor 23,080 Other overhead costs 119,500 Sales (received in cash) 1,900,000 Predetermined overhead rate based on direct labor cost 55% Exercise 15-10 Journal entries for overhead LO P3 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 Journal entry worksheet Record other factory overhead costs (excluding indirect materials and indirect labor). Record credit to Other Accounts. Note: Enter debits before credits.