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.