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 70% 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. Required information *Do not consider any underapplied or overapplied overhead. Work in Process (WIP) 10,200 April 30 April 30 RM purchases Raw Materials (RM) 43,000 210,000 15,000 Indirect materials 186,000 DM used 52,000 186,000 265,000 DM used DL used Overhead applied May 31 Cost of goods manuf. May 31 461,200 Finished Goods (FG) 63.000 April 30 Cost of goods manuf. Overhead applied Factory Overhead 15,000 80,000 Indirect materials Indirect labor Other overhead costs wwwww Cost of goods sold 120,000 May 31 63,000 Underapplied OH 215,000 Income statement (partial) Sales Cost of goods sold Gross profit $ 0