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 $ $4e,eee 9,780 61,000 49,000 18,900 34,780 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 Creceived in cash) Dredetermined overhead rate based on direct labor cost 194, 250,080 13,000 57,50 93,589 1,200,00 Compute the following amounts for the month of May using T-accounts 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)