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i need some help please Use the following information to answer questions [The following information applies to the questions displayed below] The following information is

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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 roducts and uses a job order costing system. April 30 May 31 $ 26,880 9,400 65,000 32,000 19,400 34,800 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 185,000 150,000 10,000 34,500 108,500 1,100,000 Exercise 02.7 Cost flows in a job order costing system LO P1, P2, P3, P4 Compute the following amounts for the month of May using T-accounts 1. Cost of direct materials used. 2. Cost of direct labor used. Required information 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) 26,000 10,000 indirect materials 185.000 169,000 OM used April 30 April 30 RM purchases Cost of goods manuf DM used DL used Overhead applied May 31 Work in Process MIP) 9.400 169,000 115.500 63,525 357 425 May 31 32,000 Finished Goods (FG) Inventory 65.000 Cost of ooods sold Factory Overhead 10 000 April 30 indirect materials Cost of goods manul Indirect labor 34500 108,500 Other overhead costs Finished Goods (FG) Inventory 65,000 Cost of goods sold Factory Overhead 10.000 April 30 Cost of goods manuf Indirect materials Indirect labor Other overhead costs 34,500 108,500 May 31 65 000 Underapplied OH 153,000 Income statement (partial) Sales $ 1.100.000 Cost of goods sold Gross profit 5 1.100.000

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