Required information IThe 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 3eMay 31 Inventories Raw materials Work in process Finished goods $47,008 42,000 19,200 34,900 9,200 Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead 178,000 30e, 000 Indirect materials Indirect labor Other overhead costs 15,900 69,800 92, 500 1,300,e00 Sales (received in cash) Predetermined overhead rate based on direct labor cost 55%