The following information is available for Lock-Down Company, which produces special-order security products and uses a job order cost accounting system. April 30 May 31 Inventories Raw Materials......................................... $40,000 $50,000 Goods in process.................................... 9,600 19,500 Finished goods....................................... 60,000 33,200 Activities and information for May Raw materials purchases (paid w/ cash)... 189,000 Factory payroll (paid w/cash).................. 400,000 Factory Overhead Indirect materials................................. 12,000 Indirect Labor...................................... 75,000 Other overhead costs......................... 100,500 Sales (recieved in cash)......................... 1,200,000 Predetermined overhead rate based on direct labor costs..... 65% Complete the following amounts for the month of May 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 Use the prior information to prepare journal entries for the following events for the month of May. 1. Raw materials purchases for cash 2. Direct materials usage 3. Indirect materials usage 4. Factory payroll costs in cash 5. Direct labor usage 6. Indirect labor usage 7. Factory overhead excluding indirect materials and indirect labor (record credit to Other Accounts) 8. Application of overhead to goods in process 9. Allocation of overapplied or underapplied overhead to Cost of Goods Sold