Save & 1 215 points 000 Required information 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 es job order costing system Inventories Hay Raw materials Work in process 550.000 $ 37,000 Finished goods 9.700 18,00 60,000 36, Activities and Information for Hay watersats purchases with can 17.00 Factory payroll (as with cash) 250,00 Factory overhead Indirect materials 15, Indirect Labor 37,5 Other overhead costs 115,00 Sales received in cash) 1.000.000 Predetermined overhead rate based on direct or cost HO Pri Where 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 underapped overhead "Do not consider any underlied or overapplied overhead Prev 101 Next Graw 1 715 point Compute the following amounts for the month of May using Taccounts 1. Cost of direct materials used 2. Cost of direct labor used. 3. Cost of goods manufactured 4. Cost of goods sold 5. Grous profit 6. Overapplied or underapplied overhead "Do not consider any underapplied or overapplied overhead Han A30 Apr 30 ruch 50.000 170.000 OM 1.000 177.00 DE wed May 21 700 reces 37 000 May 31 fo Fechado 8.000 Prema wer 19.000 STS TA Cost of goods ant Costa Ondo 000 300 ad May 21 Net Prev Graw Hall goods manuf 7.15 points Cost of goods sold Indirect labor May 31 66,000 Other overhead costs 11 eBook Underapplied OH 18 be Hint Print Income statement (partial) Sales $ 1.800.000 Cost of goods sold Gross profit $ 1,800,000 References $ Required information [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 Inventories May 31 Raw materials $50,000 37,000 Work in process 9,700 18,700 Finished goods 66,000 34,600 Activities and information for May Raw materials purchases (paid with cash) 179,000 Factory payroll (paid with cash) 250,000 Factory overhead Indirect materials 15,000 Indirect labor 57,500 115,500 Other overhead costs Sales (received in cash) 1,800,000 555 Predetermined overhead rate based on direct labor cost 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." r Cross profit