prepare journal entries for the above events for the month of may omit the sign in 461013

The following information is available for Lock-Down Company, which produces special-order security products and uses a job order cost accounting system.

April 30 May 31

Inventories

Raw materials $ 36,000 $ 49,000

Goods in process 10,100 18,500

Finished goods 64,000 36,400

Activities and information for May

Raw materials purchases (paid with cash) 191,000

Factory payroll (paid with cash) 415,000

Factory overhead

Indirect materials 14,000

Indirect labor 80,000

Other overhead costs 96,000

Sales (received in cash) 1,220,000

Predetermined overhead rate based on direct labor cost 65 %

1. Factory payroll costs in cash.

2. Direct labor usage.

3. Indirect labor usage.

Prepare journal entries for the above events for the month of May. (Omit the “$” sign in your response.)

Events General Journal Debit Credit

1.

2.

3.