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.

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.

April 30 May 31 $ $30,000 9,800 50,000 34,000 19,700 33,700 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 193,000 300,000 8,000 69,000 100,500 1,500,000 55% April 30 Raw Materials (RM) 30,000 8,000 Indirect materials 193,000 181,000 DM used April 30 Work in Process (WIP) 9,800 181,000 Cost of goods manuf. RM purchases DM used DL used Overhead applied May 31 May 31 34.000 190,800 Finished Goods (FG) Inventory 50,000 Cost of goods sold Factory Overhead 8,000 April 30 Indirect materials Overhead applied Cost of goods manuf. Indirect labor 69.000 Other overhead costs 100,500 50,000 177,500 Income statement (partial) Sales Cost of goods sold Gross profit $ 0