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 The Company, which produces special-order security products and uses a job order costing system April 30 May 31 Inventories Raw materials $30,000 $ 35,000 Work in process 9,200 19,400 Finished goods 55,000 34,200 Activities and information for May Raw saterials purchases (paid with cash) 191,00 Factory payroll (paid with cash) 300,000 Factory overhead Indirect materials 10,000 Indirect labor 69,000 Other overhead costs 116,000 Sales (received in cash) 1,300,000 Predetermined overhead rate based on 55 direct labor cost Exercise 19-7 Cost flows in a job order costing system LO P1, P2, P3, P4 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) Indirect 30,000 10,000 materials 191.000 IDM used Work in Process (WIP) Cost of goods manul April 30 IDM used DL used Overhead applied May 31 May 31 211.000 Finished Goods (EG) Factory Overhead Cost of goods sold April 30 Cost of goods manut. indirect materials Indirect labor Other overhead costs Underapplied OH 0 Income statement (partial) Sales Cost of goods sold Gross profit $