Saved April 30 May 31 s $40,000 9,500 63,000 40,000 19,900 34,400 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined overhead rate based on direct labor cost 190,000 100,000 7,000 23,000 117,500 1,200,000 55% Compute the following amounts for the month of May using T-accounts. . 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. Raw Materials (RM) Work in Process (WIP) 0 0 Finished Goods (FG) Inventory Factory Overhead 0 0 Income statement (partial) $