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 $ $32,000 9,500 55,000 36,000 18,500 33,300 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 186,000 100,000 7,000 23,000 109,500 1,200,000 55% 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. Work in Process (WIP) April 30 RM purchases Raw Materials (RM) 32.000 7,000 Indirect materials 186,000 DM used 211,000 0 Finished Goods (FG) Factory Overhead 0 0 Income statement (partial) $ 0