ndix D & Chapters 1-3 Saved Help 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 May 31 Inventories Raw materials $36,000 $ 48,000 Work in process 9,000 18,800 Finished goods 60,000 33, 100 Activities and information for May Raw materials purchases paid with cash) 194,000 Factory payroll (paid with cash) 200,000 Factory overhead Indirect materials 14,000 Indirect labor 46,000 Other overhead costs 93,000 Sales (received in cash) 1,300,000 Predetermined overhead rate based on direct labor cost 550 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. pendix D & Chapters 1-3 TOERNOR ANOTANNON Orann Required information Do not consider any underappied or overappreu uverneau. Work in Process (WIP) Cost of goods manut April 30 RM purchases Raw Materials (RM) 36,000 48,000 indirect materials 194,000 DM used April 30 IDM used IDL used Overhead applied May 31 0 182.000 Factory Overhead 1:22:11 Finished Goods (FG) Inventory 0 Income statement (partial) $