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 April 30 May 31 $52,500 $ 71,000 12,100 25,100 72,500 54,600 229,000 383,000 34,000 99,000 139,000 1,590,000 70%