! Required information 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 $ $50,000 9,400 65,000 42,000 20,100 34,100 Inventories Raw materials Work in process Pinished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead coats Sales (received in cash) Predetermined overhead rate based on direct labor cost 179,000 100,000 15,000 23,000 110,500 1,900,000 558 Exercise 15-8 Journal entries for materials LO P1 1. Raw materials purchases for cash. 2. Direct materials usage. 3. Indirect materials usage. Prepare journal entries for the above transactions for the month of May. Required information Prepare journal entries for the above transactions for the month of May. View transaction list Journal entry worksheet 1 2 3 > Record raw material purchases for cash. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal Required information Prepare journal entries for the above transactions for the month of May. View transaction list Journal entry worksheet Record the entry to assign direct materials to jobs. ht Note: Enter debits before credits inces General Journal Debit Credit Transaction 2 Record entry Clear entry View general Journal Required information Prepare journal entries for the above transactions for the month of May. View transaction list Journal entry worksheet Record the entry to assign indirect materials to jobs. Note: Enter debits before credits. Transaction General Journal Debit Credit 3 Record entry Clear entry View general Journal Exercise 15-9 Journal entries for labor LO P2 1. Direct labor usage. 2. Indirect labor usage. 3. Total payroll paid in cash. Prepare journal entries for the above transactions for the month of May. View transaction list Journal entry worksheet 1 2 3 Record the entry for direct labor usage. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Recordentro clearanto Viewoneralioual Exercise 15-9 Journal entries for labor LO P2 1. Direct labor usage. 2. Indirect labor usage. 3. Total payroll paid in cash. Prepare journal entries for the above transactions for the month of May. View transaction list Journal entry worksheet Record the entry for indirect labor usage. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Dacardant Cisaranto View..canlioural Required information 1. Direct labor usage. 2. Indirect labor usage. 3. Total payroll paid in cash. 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. General Journal Debit Credit Transaction 1 Record entry Clear entry View general journal View transaction list Journal entry worksheet Record the application of overhead to work in process. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Record entry Clear entry View general journal