Check my work The following information is available for Lock-Tite Company, which produces special-order security...
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Accounting
Check my work 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 Work in process Finished goods $43,000 $ 52, 000 21,300 35, 600 10, 200 63,000 Activities and information for May Raw materials purchases (paid with cash) 210, 000 345, 000 Factory payroll (paid with cash) 15, 000 Indirect materials Indirect labor other overhead costs 129, 00 1,400, 000 Sales (received in cash) Predetermined overhead rate based on direct labor cost 70% 1. Raw materials purchases for cash 2. Direct materials usage. 3. Indirect materials usaae.
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