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 $ $ 38,000 9,500 55,000 50,000 20,900 33,900 184,000 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined overhead rate based on direct labor cost 200,000 11,000 46,000 97,500 1,000,000 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. April 30 RM purchases Raw Materials (RM) 38.000 184,000 Indirect materials Answer is not complete. Work in Process (WIP) April 30 9,500 DM used DL used 154,000 Overhead applied 84,700 248,200 ololo DM used 222,000 Finished Goods (FG) 55.000 Factory Overhead 11,000 Indirect materials Overhead applied April 30 Cost of goods manuf. Cost of goods sold Indirect labor 46,000 Other overhead costs 97,500 55,000 Underapplied OH 154,500 Answer is not complete. Income statement (partial) Sales Cost of goods sold Gross profit $ 0