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. ril 3 Inventories Raw materials Work in process Finished goods 41,000 9,800 63,000 55,00e 21,000 33,600 Activities and information for May 197,000 200,000 Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs 11,000 46,000 119,500 1,300,000 Sales (received in cash) Predetermined overhead rate based on direct labor cost Exercise 19-7 Cost flows in a job order costing system LO P1, P2, P3, P4 xercise 19-7 Cost flows in a job order costing system LO P1, P2, P3, P4 ompute the following amounts for the month of May using T.accounts 1. Cost of direct materials used 2. Cost of direct labor used 8. Cost of goods manufactured . Cost of goods sold 6. Overapplied or underapplied overhead Do not consider any underapplied or overapplied overhead Work in Process (WIP) Raw Materials (RM) 11,000 Indirect materials 41,000 April 30 197.000 221 000