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 $32,000 $ 54,000 9,300 19,000 Finished goods 63,000 33,700 Activities and information for May Raw materials purchases (paid with cash) 180,000 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 200,000 7,000 46,000 100,000 1,400,000 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. Raw Materials (RM) 0 Work in Process (WIP) Finished Goods (FG) Inventory Factory Overhead Income statement (partial) 0 0 MEN