1. Information from the records of the Maloney Company for the month of May 2016 is as follows: Purchases of direct materials Indirect labor $54,000 15,000 31,200 9.000 Direct labor Depreciation on factory machinery Sales Selling and administrative expenses Rent on factory building 165.900 18,900 21,000 May 1, 2016 $24,000 Inventories May 31, 2016 $26,100 9,600 6,300 Direct materials Work in process Finished goods Required 15,000 17,100 a. Prepare a statement of cost of goods manufactured for the month of May. b. Prepare an income statement for the month of May. c. Determine prime and conversion costs. Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answe