Chec 0 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 April 30 Inventories May 31 Raw materials $ 43,000 Work in process 52,000 10,200 21,300 Finished goods 63,000 Activities and Information for May 35,600 Raw materials purchases (paid with cash) 210,000 Factory payroll (paid with cash) 345,000 Factory overhead Indirect materials 15,000 Indirect labor 30,00 Other overhead costs 120,000 Sales (received in cash) 1,400,000 Predetermined overhead rate based on direct labor cost 70% Compute the following amounts for the month of May using Taccounts Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined overhead rate based on direct labor cost 15,600 80,000 120,000 1,400,000 70% 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 es Raw Materials (RM) Work in Process (WIP) Check my work Required information not consider any underapplied or overapplied overhead Raw Materials (RM) Work in Process (WIP) 0 0 Cost of goods manul Cost of goods sold DL used Finished Goods (FG) Inventory Factory Overhead DM used ! Required information Income statement (partial) $ 0 Accounts payable Accounts receivable Cash Cost of goods sold Do not consider any underapplied or overapplied overhead. Raw Materials (RM) Finished Goods (FG) Inventory 0 April 30 May 31