ucation.com/252Fmghmiddle er 15 Homework Saved Help 1 of 4 Required information Use the following information to answer questions [The following information applies to the questions displayed below.) 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 $ Book $50,000 9,400 65,000 42,000 20,100 34,100 Print 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 costs Sales (received in canh) Predetermined overhead rate based on direct labor cost 179,000 100,000 Terences 15,000 23,000 110,500 1,900,000 558 Exercise 15-7 Cost flows in a job order costing system LO P1, P2, P3, P4 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 Prey 1 2 3 4 of 4 Next > Check my work Exercise 15-7 Cost flows in a job order costing system LO P1, P2, P3, P4 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, Raw Materials (RM) Work in Process (WIP) Finished Goods (FG) Factory Overhead Income statement (partial) nces $ 0 Prey 1 2 3 4 of MacBook Pro