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 301 May 31 Inventories Raw materials $28,000 $ 36,000 Work in process 10,000 20,900 Finished goods 60,000 34,200 Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) 180,000 150,000 Factory overhead Indirect materials Indirect labor Other overhead costs. Sales (received in cash) Predetermined overhead rate based on direct labor cost 9,000 34,500 111,500 1,800,000 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. prppplied overhead. 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) Finished Goods (FG) Inventory Factory Overhead Income statement (partial)