Use the following information to answer questions 7-11 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 Inventories $39,000 $ 30,000 9,100 20,500 69,00034,500 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 186,000 300,000 Indirect materials Indirect labor Other overhead costs Sales (receved in cash) Predetermined overhead rate based on direct labor cost 7,000 71,000 111,000 1100,000 55%