Use information in Exercise 19-7 to prepare journal entries for the following events for the month of May.
1. Factory overhead excluding indirect materials and indirect labor (record credit to Other Accounts).
2. Application of overhead to goods inprocess.

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April 30 May 31 Inventories Raw materials ...._ . Goods in process^._. $40.000 50,000 9,500 33,200 9.600 60,000 Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead 189,000 400,000 casn...-. 4....-. Indirect materials. Indirect labor Other overhead costs 2,000 75,000 00,500 1,200,000 Predetermined overhead rate based on direct labor cost ... 65%