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.

Required information Use the following information to answer questions (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 May 31 $ $39,000 9,300 52,000 39,000 18,200 33,500 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 188,000 200,000 18,000 46,000 104,000 1,100,000 55% Required information Raw Materials (RM) Work in Process (WIP) April 30 RM purchases Indirect materials DM used April 30 DM used DL used Overhead applied May 31 May 31 0 Finished Goods (FG) Factory Overhead April 30 Indirect materials Cost of goods manuf. Indirect labor Other overhead costs May 31 0 Underapplied OH 0 Income statement (partial) Sales Cost of goods sold Gross profit $ 0