the following information is available for Lock-Tite company, which produces special order security products and uses a job order costing system

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

Requlred nformation Use the following informatlon to answer questlons 7-11 The folowing 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. Inventorles Raw matertals Work in process $42,000 $ 37,000 9,600 20,600 63.000 33,800 Finished goods Activitles and Information for May Raw materials purchases (pald with cash) Factory payroll (pald with cash) Factory overhead 194,000 300.000 Indirect materials Indirect labor Other overhead costs 18,000 69.000 103.000 1.600.000 Sales (recelved in cash) Predetermined overhead rate based on direct 55% labor cost