Required information The following information applies to the questions displayed below g information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. Aprila 0114ay3 Inventories Raw materials Work in process Finished goods $49,000 41,000 20,300 34, 800 9,400 63,000 Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead 181,000 250,000 Indirect materials Indirect labor Other overhead costs 13,000 57,500 90,500 1,100,000 Sales (received in cash) Predetermined overhead rate based on direct labor cost 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. Overannlied or underannlied overhead K Prev 4 5 6 7 of 10Neyt