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 s $39,000 9,800 66,000 48,000 19,200 34,300 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead conta Sales (received in cash) predetermined overhead rate based on direct labor cost 196,000 150,000 7,000 34,500 96,000 1,000,000 551 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, *Do not consider any underapplied or overapplied overhead. Work in Process (WIP) April 30 RM purchases Raw Materials (RM 39,000 196.000 235.000 0 Finished Goods (FG) Inventory Factory Overhead 0 Income statement (partial