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 21,300 35, 600 ints Raw materials Work in process Finished goods 10, 200 63, 000 eBook Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead 210,000 345,000 Hint References Indirect materials Indirect labor Other overhead costs 15,000 80, 000 Sales (received in cash) Predetermined overhead rate based on direct labor cost 1,400, 70% Determine whether there is over or underapplied overhead. Factory Overhead Ac raw