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 $42,000 $ 38,000 Work in process 9,800 18,200 Finished goods 63,000 34,700 Activities and information for May Raw materials purchases (paid with cash) 177,000 Factory payroll (paid with cash) 150,000 Factory overhead Indirect materials 13,000 Indirect labor 34,500 Other overhead costs 103,000 Sales received in cash) 1,800,000 Predetermined overhead rate based on direct labor cost 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. Raw Materials (RM) Work In Process (WIP) 0 Finished Goods (FG) Inventory Factory Overhead 0 Income statement (partial)