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 $ $29,000 9,000 68,000 52.000 18,300 33,200 185,000 300,000 Inventories Raw materials work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with canh) Factory overhead Indirect materials Indirect labor Other overhead conta Sales (received in cash) Predetermined overhead rate based on direct labor cost 7.000 69,000 106,000 2,000,000 550 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. "Do not consider any underapplied or overapplied overhead. Work in Process (WIP) 9,000 April 30 April 30 RM purchases OM used Raw Materials (RM) 29,000 185.000 7.000 indirect materials 155,000 DM used 52.000 155.000 162.000 DL used Overhead applied May 31 May 31 326,000 Finished Goods (FG) Inventory Factory Overhead 0 Income statement (partial) $ 0