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			$	35,000
Work in process		9,700				18,400
Finished goods		60,000				34,500
Activities and information for May
Raw materials purchases (paid with cash)						189,000
Factory payroll (paid with cash)						250,000
Factory overhead
Indirect materials						10,000
Indirect labor						57,500
Other overhead costs						111,000
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 overhead.

*Do not consider any underapplied or overapplied overhead.

Can you help me understand what I'm missing? :(

April 30 RM purchases Raw Materials (RM) 42,000 10,000 Indirect materials 189.000 186,000 DM used April 30 DM used DL used Overhead applied May 31 Work in Process (WIP) 9,700 186,000 192,500 105,875 475,675 Cost of goods manuf 18.400 35,000 Finished Goods (FG) Inventory 60.000 Factory Overhead 10.000 April 30 Indirect materials Cost of goods manuf. 475,675 501,175 Cost of goods sold Indirect labor 57,500 Other overhead costs 111,000 105,875 Overhead applied May 31 34.500 72,625 Income statement (partial) Sales $ 1,900,000 Cost of goods sold 501,175 Gross profit $ 1,398,825