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

The following information is available for Lock-Tite Company, which produces special-order security produc costing system. Inventories Raw materials Work in process Finished goods $43,500 53,000 21,500 36,600 10,300 63, 500 Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead 211,000 347,000 Indirect materials Indirect labor Other overhead costs 16,800 81,000 121,000 1,416,00e Sales (received in cash) Predetermined overhead rate based on direct labor cost 2 75% Determine whether there is over or underapplied overhead Factory Overhead 7 of13 iii Next >