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 Y 30 May 31 Raw materials Work in process $44,000 $ 59,000 10,000 18,100 Finished goods 64,000 33,300 Activities and information for May Raw materials purchases (paid with cash) 171,000 Factory payroll (paid with canh) 150,000 Factory overhead Indirect materials 11.000 Indirect labor 34,500 Other overhead costs 119,500 Salas (received in canh) 1,300,000 SSN 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. Overapplied or underapplied overhead. *Do not consider any underapplied or overapplied overhead. Required information April 30 Raw Materials (RM) 44,000 11.000 indirect materials 171.000 145,000 OM used of Cost of goods manut RM purchases April 30 TOM used TOL used Overhead applied May 31 Work in Process (WIP) 10,000 185.900 115,500 63,5251 374,925 May 31 59,000 Finished Goods (FG) Inventory 64,000 Cost of goods sold April 30 Indirect materials Indirect labor Factory Overhead 11,000 115.500 Overhead applied 34,500 Cost of goods manut Other overhead costs 119.500 May 31 64.000 Underapplied OH 49,500 Income statement (partia) Sales $ 1.300.000 Cost of goods sold Gross profit 5 1.300.000