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 36e Inventories Raw materials Work in process Finished goods $27,000 32,000 18,400 34,800 9,600 60,000 Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead 176,000 250,000 Indirect materials Indirect labor Other overhead costs 15,000 57,500 101,500 1,900,0e0 Sales (received in cash) 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