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. Inventories April 3e May 31 Raw materials $ 48,00 $ Work in process 51, een 9,200 19,00 Finished goods 63,eee 35, ese Activities and information for May Raw materials purchases (paid with cash) 191,000 Factory payroll (paid with cash) 200,000 Factory overhead Indirect materials 14, eee Indirect labor 46, see Other overhead costs 114,500 Sales (received in cash) 1,7ee.ee Predetermined overhead rate based on direct labor cost 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. *Do not consider any underapplied or overapplied overhead. Raw Materials (RM) 48,000 14,000 indirect materials 191,000 174,000 DM used 'April 30 RM purchases of Cost of goods April 30 DM used DL used Overhead applied Work in Process (WIP) 9.200 174.000 154.000 84.700 421,900 May 31 51,000 May 31 Finished Goods (FG) Inventory Cost of goods sold Factory Overhead 14.000 indirect materials Overhead app April 30 Indirect labor 46,000 Cost of goods manuf