April 30 May 31 Inventories Raw materials Work in process Finished goods $44,000 $ 45,000 19,000 34,500 9,200 60,000 Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead 180,000 100,000 Indirect materials Indirect labor Other overheadcosts 10,000 23,000 98,500 1,100,000 Sales (received in cash) Predetermined overhead rate based on direct labor cost 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