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
Raw materials $ 36,000 $ 49,000
Goods in process 11,500 22,000
Finished goods 66,000 30,800
Activities and information for May
Raw materials purchases (paid with cash) 190,000
Factory payroll (paid with cash) 395,000
Indirect materials 11,000
Indirect labor 73,000
Other overhead costs 105,000
Sales (received in cash) 1,240,000
Predetermined overhead rate based on direct labor cost 65 %
1. Raw materials purchases for cash.
2. Direct materials usage.
3. Indirect materials usage.
Prepare journal entries for the above events for the month of May. (Omit the “$” sign in your response.)
Events General Journal Debit Credit