Use the following information to answer questions 7-11 IThe following information applies to the questions displayed belowj 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 45,000 9,600 19.500 Work in process Finished goods 54,000 33,400 Activities and information for May 177,000 Raw materials purchases (paid with cash) Factory payroll (paid with cash 150,000 Factory overhead Indirect materials 16,000 Indirect labor 34,500 Other overhead costs 117,000 1,400,000 Sales (received in cash) 55% Predetermined overhead rate based on direct labor cost