[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 $ $ 27,000 9,300 60,000 41,000 20,500 34,300 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 190,000 200,000 7,000 46,000 101,500 1,300,000 55% 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. Work in Process (WIP) 9,300 Raw Materials (RM) 27,000 169,000 DM used 190,000 7,000 Indirect materials April 30 RM purchases Cost of goods manuf. April 30 DL used DM used Overhead applied May 31 169,000 May 31 41,000 178,300 Finished Goods (FG) Inventory 60,000 Cost of goods sold Factory Overhead 7,000 April 30 Indirect materials Cost of goods manuf. Indirect labor 46,000 Other overhead costs 101,500 May 31 60,000 Overhead applied Underapplied OH 154,500 Income statement (partial) Sales $ 1,300,000 Cost of goods sold 101,500 Gross profit $ 1,198,500