Required Information The forlowing information applies to the questions displayed below) The following information is available for Lock-Tite Company, which produces special order security products and uses ob order conting system April 3 Inventories materials $32,600 $ 59,900 Work in process 9,900 Hirshed goods 18,700 66,00 24,500 Activities and Information for May Baterials purchases (paid with cash) 189,000 Factory payroll (pld with cash) 25, Factory overhead Indirect materials 7.000 Indirect labor 57.500 Other overhead costs 119.000 Sales (received in cash) 1,200, eee Predetersined overhead rate based on direct labor cost 55 Compute the following amounts for the month of May using 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 underopplied overhead Do not consider any underapplied or overapped overhead Raw Materials RM Work in Process (WW Finished Goods Frentory Factory Overhead Income statement (partial) $ 0