Required information [The following information applies to the questions displayed below] The following information is available...

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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 10 May 31 Inventories Raw materials Work in process $33,000 9,800 $ 32,000 19,500 Finished goods 52,000 Raw materials purchases (paid with cash) 33,600 180,000 Activities and Information for May Factory payroll (paid with cash) Factory overhead Indirect materials Other overhead costs) Indirect labor Sales (received in cash) Predetermined overhead rate based on direct labor cost 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 RM purchases 300,000 15,000 69,000 120,000 1,000,000 55% Raw Materials (RM) 33.000 Work in Process (WIP) 15.000 Indirect materials April 30 188.000 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 10 May 31 Inventories Raw materials Work in process $33,000 9,800 $ 32,000 19,500 Finished goods 52,000 Raw materials purchases (paid with cash) 33,600 180,000 Activities and Information for May Factory payroll (paid with cash) Factory overhead Indirect materials Other overhead costs) Indirect labor Sales (received in cash) Predetermined overhead rate based on direct labor cost 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 RM purchases 300,000 15,000 69,000 120,000 1,000,000 55% Raw Materials (RM) 33.000 Work in Process (WIP) 15.000 Indirect materials April 30 188.000