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 $ $ 38,000 9,100 62,000 60,000 19,800 34,600 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 193,000 200,000 7.000 46,000 115,000 1,680,000 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. April 30 RM purchases Work in Process (WIP) 9.100 Raw Materials (RM) 38.000 193,000 7.000 indirect materials 125,000 DM used 99,000 April 30 DM used DL used Overhead applied 9,100 Finished Goods (FG) Inventory Apni 30 Factory Overhead indirect materials Cost of goods manuf Indirect labor Cost of goods sold Other overhead costs ol 1. Raw materials purchases for cash. 2. Direct materials usage. 3. Indirect materials usage. Prepare journal entries for the above transactions for the month of May. View transaction list Journal entry worksheet Record the entry for direct labor usage. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 1. Direct labor usage. 2. Indirect labor usage. 3. Total payroll paid in cash. Prepare journal entries for the above transactions for the month of May. View transaction list Journal entry worksheet > Record the entry for direct labor usage. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 1. Incurred other overhead costs (record credit to Other Accounts). 2. Applied overhead to work in process. Prepare journal entries for the above transactions for the month of May. View transaction list Journal entry worksheet B > Record other factory overhead costs (excluding indirect materials and indirect labor). Record credit to Other Accounts. Note: Enter debits before credits. Transaction General Journal Debit Credit 1