Use information in Exercise 2-7 to prepare journal entries for the following events for the month of May.
In Exercise 2-7
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system.

1. Incurred other overhead costs (record credit to Other Accounts).
2. Application of overhead to work in process.

April 30 May 31 Inventories lb067 b Mutt) 10,200 63,000 $ W9rk ni 1txsw viimke . _.... lb067 "simb; .MS Iesall with cird.) -.................. Factory overhead KXpat) 35.600 210,000 Activities and information for May 345,000 15,000 80,000 20,000 1.400,000 Predetermined overhead rate based on direct labor cost 70%