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 Inventories Raw materials Work in process Finished goods $49,00057,000 18,700 34,800 9,400 51,000 Activities and information for May Raw materials purchases (paid with cash) Factory payrol1 (paid with cash) Factory overhead 193,000 250,000 Indirect material3 Indirect labor Other overheadcosts 7,000 57,500 119,000 1,900,000 Sales (received in cash) Predetermined overhead rate based on direct labor cost 559 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 Raw Materials (RM) Work in Process (WIP) April 30 49,000 April 30 9,400 178,000 192,500 105,875 18,700 M purchases 193,000 M used 7,000 Indirect materials used 178,000 DM used Overhead applied 467,075 Cost of goods manuf ay 31 57,000 Finished Goods (FG) Factory Overhead 51,000 7,000 57,500 119,000 April 30 ndirect materials Cost of goods manuf 467,075 Indirect labor 483,275 Cost of goods sold Other overhead costs 34,800 105,875 Overhead applied 77,625