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	$	32,000			$	40,000
Work in process		9,500				20,100
Finished goods		54,000				34,900
Activities and information for May
Raw materials purchases (paid with cash)						197,000
Factory payroll (paid with cash)						200,000
Factory overhead
Indirect materials						15,000
Indirect labor						46,000
Other overhead costs						106,000
Sales (received in cash)						1,300,000
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.

1. Raw materials purchases for cash.
2. Direct materials usage.
3. Indirect materials usage.

Prepare journal entries for the above transactions for the month of May.

1. Direct labor usage.
2. Indirect labor usage.
3. Total payroll paid in cash.

Prepare journal entries for the above transactions for the month of May.

1. Incurred other overhead costs (record credit to Other Accounts).
2. Applied overhead to work in process.

Prepare journal entries for the above transactions for the month of May.