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 Work in process Finished goods Activities and information for May $35,000 $ 43,000 9,600 20,000 50,000 33,000 Raw materials purchases (paid with cash) 195,000 Factory payroll (paid with cash) 150,000 Factory overhead Indirect materials 11,000 Indirect labor 34,500 Other overhead costs 118,000 Sales (received in cash) 1,100,000 Predetermined overhead rate based on direct labor cost 55%