Ch Required information The following information applies to the questions displayed below) The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. Inventories April 30 May 31 Raw materials Work in process Finished goods $43,000 43,000 20,900 33,100 9,300 53,000 Activities and information for Hay Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead 188,000 250,000 Indirect materials Indirect labor Other overhead costs 12,000 57,500 92,500 1,600,000 Sales (received in cash) Predetermined overhead rate based on direct labor cost 558 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 underapplied or overapplied overhead. Raw Materials (RM) April 30