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 products and uses a job order costing system April 30 May 91 $ $26.000 9. 300 62,000 41.000 19. 300 34,100 Inventories Raw material: Vork in proce Panthed goods Activities and information for My Raw tale purchases (pad with cath) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Othet overhead coats Solar (teceived in cash) Predetermined ovechead tate buted direct labor cost 184.000 250.000 14.000 57.500 109.000 1.500.000 55% 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 Required information "Do not consider any underapplied or overapplied overhead Work In Process (WIP) April 30 RM purchases Raw Materials (RM) 25,000 14 000 indirect materials 184,000 196,000 Finished Goods (FG) Inventory Factory Overhead come sont partan