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 $ $43,000 10,200 63,000 52,000 21,300 35,600 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 Sales (received in cash) Predetermined overhead rate based on direct labor cost 210,000 345,000 15,000 80,000 120,000 1,400,000 704 Required information 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. G. Overapplied or underapplied overhead. Do not consider any underapplied or overapplied overhead. April 30 RM purchases Raw Materials RMS 43,000 15.000 indirect materials 210,000 100,000 DM used April 30 Ponused Dod Overhead applied May 31 Work in Process WP 10, 2001 625,400 Cost of good manul 10.000 205,000 185,500 25,300 May 31 52.000 April 30 Cost of goods manut Finished Goods (FG) Inventory 63.000 5652.800 Cost of goods sold 625 400 materiale indirect labore Other overhead cost Factory Overhead 15.000 60,000 120.000 185.500 Overhead applied 35.000 Underapplied OH 29.500 Income statement partial 1. Raw materials purchases for cash. 2. Direct materials usage. 3. Indirect materials usage. Prepare journal entries for the above transactions for the month of May. View transaction list Journal entry worksheet Record raw material purchases for cash. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal 1. Direct labor usage. 2. Indirect labor usage. 3. Total payroll paid in cash. Prepare journal entries for the above transactions for the month of May. View transaction list Journal entry worksheet A B > Record the entry for direct labor usage. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general journal