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 $ $ 47,000 9,400 66,000 59,000 18,900 33,900 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 Soles (received in cash) Predetermined overhead rate based on direct labor cost 122,000 300,000 18,000 69,000 120,000 1,400,000 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. Next "Do not consider any underapplied or overapplied overhead Wo Proces April 30 Riw Materiale 47.000 172,000 TRM purchases Indirect materials LOM used Cost of goodsmanul April 30 OM used Lused Overhead upplied May 31 May 31 219,000 Facy Overd Finished Goods Flventory Cost of goods sold Indirect materials April 30 Cost of goods manut Indirect labor Over overhead costs May 31 Lindarppiled OH