Required information The following information applies to the questions displayed below.j The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 3 May 31 Inventories Raw materials Work in process Finished goods 25,041,0 19,000 34,600 9,900 55,000 Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead 179,900 150,000 Indirect materials Indirect labor Other overhead costs 9,000 34,500 105,000 1,100,800 Sales (received in cash) Predetermined overhead rate based on direct labor cost 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 Do not consider any underapplied or overapplied overhead Raw Materials (RM) Work in Process (WIP) April 30 25,000 9000 Indirect materials April 30 Cost of goods manuf M purchases 179,000 M used M used L used Overhead applied ay 31 195,000 ay 31 Finished Goods (FG) Factory Overhead Cost of goods sold Overhead applied Indirect materials Indirect labor Other overhead costs April 30 Cost of goods manuf ay 31 nderapplied OH Income statement (partial) Sales Cost of goods sold Gross profit