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[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

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[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 31 $ $33,000 9,900 67,000 30,000 19,900 34,000 Inventories Raw materials Work in process Tinished goods Activities and Information for May Raw materials purchases (paid with cash) Tactory payroll (paid with canh) Tactory overhead Indirect materials Indirect labor Other overhead coats Balea (received in canh) Predetermined overhead rate based on direct labor cont 196.000 150,000 -9:20 ou 8,000 34,500 112,500 1.100.000 556 Tences Compute the following amounts for the month of May using T-accounts, 1. Cost of direct materials used. 2. Cost of direct lobor used. 3. Cost of goods manufactured, 4. Cost of goods sold." 5. Gross profit. 6. Overapplied or underapplied overhead

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