Required information [The following information applies to the questions displayed below.] The following information is available for a Company, which produces special-order security products and uses a job order costing system. April 30 May 31 Inventories Raw materials $47,000 $ 48,000 Work in process 9,100 18,800 Finished goods 68,000 33,300 Activities and information for May Raw materials purchases (paid with cash) 189,000 Factory payroll (paid with cash) 100,000 Factory overhead Indirect materials 16,000 Indirect labor 23,000 Other overhead costs Sales (received in cash) Predetermined overhead rate based on direct labor cost 108,000 1,600,000 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. *Do not consider any underapplied or overapplied overhead. Raw Materials (RM) Work in Process (WIP) Finished Goods (FG) Inventory Factory Overhead