! 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. Finished goods Inventories Raw materials Work in process Activities and information for May 62,000 April 30 May 31 $31,000 9,200 $ 50,000 18,000 33,100 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 172,000 300,000 14,000 69,000 106,500 55% 1,100,000 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) Work in Process (WIP) April 30 31,000 April 30 9,200 RM purchases 172,000 DM used 158,000 14,000 Indirect materials. 158,000 DM used DL used 231,000 Overhead applied 127,050 31,000 525,250 Finished Goods (FG) Inventory Income statement (partial) Factory Overhead 0 Cost of goods manuf.