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 $ 46,000 $ 58,000 work in process 10,800 22,500 finished goods 66,000 41,600 activities and information for may raw materials purchases (paid with cash) 216,000 factory payroll (paid with cash) 357,000 factory overhead indirect materials 21,000 indirect labor 86,000 other overhead costs 126,000 sales (received in cash) 1,460,000 predetermined overhead rate based on direct labor cost 75 % determine whether there is over or underapplied overhead.