11.) Compute the following amounts for the month of July listed below. 1. Cost of direct materials used. 19 3,o 2. Cost of direct labor used. 23o o 3. Cost of goods manufactured. 6oes,Po 4. Cost of goods sold. 5. Gross profit. 1,oo o,ce o 6. Overapplied or underapplied overhead. June 30 July 31 Inventories Raw materials Work in process Finished goods 51,000 11,500 74,000 47,000 17,800 46,000 Activities and information for July Raw materials purchases (paid wlcash) Factory payroll (paid with cash) Factory overhead 189,000 321,000 Indirect materials Indirect labor Other overhead costs 23,000 91,000 116,000 1,900,000 Sales (received in cash) Predetermined overhead rate based on direct labor cost 80%