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 $ 43,899 $ 52, eee Work in process 1e, 2e0 21,3ee Finished goods 63,800 35,680 Activities and information for May Raw materials purchases (paid with cash) 210, eee Factory payroll (paid with cash) 345, eee Factory overhead Indirect materials 15, eee Indirect labor 80, eee Other overhead costs 120,wee Sales (received in cash) 1,400,eee Predetermined overhead rate based on direct labor cost 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. Answer is not complete. Work in Process (WIP) 10,200 April 30 April 30 Cost of goods manuf. RM purchases Raw Materials (RM) 43,000 210,000 15,000 Indirect materials 147,000 XDM used 91,000 > DL used DM used Overhead applied 000 238,000 x Cost of goods sold X May 31 May 31 248,200 Finished Goods (FG) Inventory 63.000 Indirect materials April 30 Cost of goods manuf. Factory Overhead 15,000 80,000 Indirect labor Other overhead costs QooL OOO 120,000 May 31 63,000 215,000