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 $30,000 $ 50,000 Work in process 9.600 20.200 Finished goods 69,000 1300 Activities and information for Hay Raw materials purchases (paid with cash) Factory payroll (paid with cash) 150,000 Factory overhead Indirect materials 8,000 Indirect labor Other overhead costs 102,000 Sales (received in cash) 1,300,000 Predetermined overhead rate based on direct labor cost 107.000 Toto je - Compute the following amounts for the month of May using T-accounts 1. Cost of direct materials used. 2. Cost of direct laborused 3. Cost of goods manufactured 4. Cost of goods sold 5. Gross profit 6. Over oplied or underapplied overhead Required information Raw Materials (RM) Work in Process (WIP) Finished Goods (FG) Overhead Income statement (partial) Required information (The following information applies to the questions displayed below.) nits Skipped 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 $ Book $30,000 9.600 69,000 se, 200 20, 260 33, 860 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 197,000 150,000 Hint Print 8.000 34,500 102 000 1 300,00 55% Neferences 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. 1 LUNI U EU US Required information 4. Cost of goods sold." 5. Gross profit 6. Overapplied or underapplied overhead. oped "Do not consider any underapplied or overapplied overhead. Raw Materials (RM) Work in Process (WIP) Finished Goods (FO) - Factory Overhead