At May 31, 2022, the accounts of Lopez Company show the following. 

1. May 1 inventories—finished goods $12,600, work in process $14,700, and raw materials $8,200.

2. May 31 inventories—finished goods $9,500, work in process $15,900, and raw materials $7,100.

3. Increases to work in process were direct materials $62,400, direct labor $50,000, and manufacturing overhead applied $40,000.

4. Sales revenue totaled $215,000.

Instructions

a. Prepare a condensed cost of goods manufactured schedule for May 2022.

b. Prepare an income statement for May 2022 through gross profit.

c. Indicate the balance sheet presentation of the manufacturing inventories at May 31, 2022.