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	$	39,000
Work in process		9,600		18,700
Finished goods		66,000		34,600
Activities and information for May
Raw materials purchases (paid with cash)				173,000
Factory payroll (paid with cash)				320,000
Factory overhead
Indirect materials				11,000
Indirect labor				88,000
Other overhead costs				112,500
Sales (received in cash)				1,900,000
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 overhea

Determine whether there is over or underapplied overhead.