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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 $ $43,000 18, 20e 63,099 52,000 21,300 35,600 Inventories Raw materials Work in process Finished 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 costs Sales (received in cash) Predetermined overhead rate based on direct labor cost 210,000 345, 15,000 80,000 120,000 1,400,000 70% Proy Required information "Do not consider any underapplied or overapplied overhead. Raw Materials (RM) Work In Process WP Finished Goods (FG) Inventory Factory Overhead -24 Income statement (partial)
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