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 43,000 52,000 Raw materials 21,300 10,200 Work in process 63,000 35,600 Finished goods Activities and information for May Raw materials purchases (paid with cash) 210,000 Factory payroll (paid with cash) 345,000 Factory overhead 15,000 Indirect materials 80,000 Indirect labor Other overhead costs 120,000 1,400,000 Sales (received in cash) Predetermined overhead rate based on direct labor cost 70%