Required information Use the following information to answer questions [The following information applies to the questions displayed below.] The following information is available for Lock-Tite Company, which produces special-order security product job order costing system. Inv ies Raw materials Work in process Finished goods $28,000 10,090 66,000 46,800 18,100 34,700 Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead 197,000 258,000 Indirect materials Indirect labor Other overhead costs 7,000 57,500 100,000 Sales (received in cash) Predetermined overhead rate based on direct labor cost 55% xercise 15-7 Cost flows in a job order costing system LO P1, P2, P3, P4 ompute the following amounts for the month of Mav using T-accounts