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 $ 46,000 Work in process 9,000 18,400 Finished goods. 55,000 34,200 Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials 177,000 250,000 8,000 Indirect labor Other overhead costs Sales (received in cash) Predetermined overhead rate based on direct labor cost 57,500 116,000 1,400,000 551 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.