2 Required information (The following information applies to the questions displayed below.] Part 1 of 2 The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 1.25 points $ $ 46,000 9,200 60,000 40,000 19,800 33,700 eBook Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined overhead rate based on direct labor cost 178,000 280,000 Hint Print References 13,000 46,00 185,500 1,980,000 55% Compute the following amounts for the month of May using T-accounts. 1. Cost of direct materials used. 2. Cost of direct labor used. 3. Cost of goods manufactured. 4. Cost of goods sold.' 5. Gross profit. 6. Overapplied or underapplied overhead. Do not consider any linderannlied or overannlied overhead 2 Required information Work in Process (WIP) Part 1 of 2 Raw Materials (RM) 46,000 13,000 Indirect materials 178,000 DM used April 30 April 30 RM purchases Cost of goods manuf. DM used DL used Overhead applied 1.25 points May 31 211,000 eBook Factory Overhead Finished Goods (FG) Inventory Cost of goods sold April 30 Indirect materials Overhead applied Hint Cast of goods manuf. Indirect labor 46,000 Print References Other overhead costs May 31 0 46,000 Income statement (partial) Sales Cost of goods sold Gross profit S 0