The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system.

Compute the following amounts for the month of May.
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 undcrapplicd or overapplicd overheat

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April 30 May 31 Inventories Raw materials$43,000 52,000 Work in process Finished goods 10,200 63,000 21,300 35,600 Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash). Factory overhead 210,000 345,000 Indirect materials Indirect labor. . .. Other overhead costs 15,000 80,000 20,000 400,000 Sales (received in cash) Predetermined overhead rate based on direct labor cost 70%