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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	$	45,000			$	44,000
Work in process		9,100				18,800
Finished goods		60,000				34,900
Activities and information for May
Raw materials purchases (paid with cash)						188,000
Factory payroll (paid with cash)						100,000
Factory overhead
Indirect materials						13,000
Indirect labor						23,000
Other overhead costs						104,500
Sales (received in cash)						1,700,000
Predetermined overhead rate based on direct labor cost						55	%

Exercise 19-7 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.