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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 $ $26.000 9,700 58,000 34,000 18,800 35,000 Inventories Raw materials Work in process Pinisbed 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 cash) Predetermined overhead rate based on direct labor cost 179,000 300,000 13,000 69,000 93,500 1.900,000 558 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 Required Information 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 0 Income statement (partial) $ 0