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html?returnUte https%3A%2F%2Fconnect.rmhedacationcom%2rpaarmweb%2Frdexhtml%239.2Fregisti 0 Required information 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. Inventorles Rau eaterials Work in process Finished goods $46,000 34,00 33,300 Activities and imformation for May Raw materials purchases (pald with cash Factory payroll (paid with cash) Factory overhead 176,000 00,660 4,009 1100,000 indirect materials Sales (recelved In cash) Predetermined averhead rate based on direct labor cost 1. Incurred other overhead costs (record credit to Other Accounts) 2. Application of overhead to work in process Prepare journal entries for the above transactions for the month of May Journal entry worksheet Record other Factory overhead costs (excluding indirect materials and indirect labor). Record credit to Other Accounts ote: Enter debits before cred C Prev

Explanation / Answer

1 Other Overhead Cost $      116,000.00 Transferred other OH s to other accounts Other Accounts $      116,000.00 2 Work in Process $      116,000.00 Transferred overhead costs to WIP Ind. Material $        14,000.00 Ind. Labour $        69,000.00 Other Overhead Cost $      116,000.00

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