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 $ $28,000 9.900 68,000 46,000 20,700 33,180 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 171,00 250,000 16,000 57,500 109,500 1,400,000 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 Compute the following amounts for the month of May using T-accounts 1. Cost of direct materials used 2 Cost of direct laborused 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 Material (RM) 28,000 16,000 indirect materials DM used Work in Process (WIP) 9.900 Apal 30 Cost of goods manuf April 30 DM used DL used Overhead applied May 31 May 31 12000 9.900 Finished Goods (FG) Inventory Cost of goods sold Factory Overhead All 30 Cost of goods manut indirect materials Indirect labor Overhead applied Other overhead costs May 31 Underapplied OH Income watement (partial) Sales Cost of goods sold Gross profe 5