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Required information [The following information applies to the questions disployed below] The following information is avallable for Lock-Tite Company, which produces special-order security products and

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Required information [The following information applies to the questions disployed below] The following information is avallable for Lock-Tite Company, which produces special-order security products and uses a job order costing system. 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. Prepare journal entries for the above transactions for the month of May. Journal entry worksheet -Do not consider any underapplied or overapplied overhead. Prepare journal entries for the above transactions for the month of May. Journal entry worksheet Record the entry to assign indirect materials to jobs. Note: Enter debits before credits. Prepare journal entries for the above transactions for the month of May. Journal entry worksheet Record the entry to assign direct materiais to jobs. Note: Enter debits before credits

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