6

At May 31, 2022, the accounts of Ivanhoe Company show the following. 1. Mary 1 imventories-finished goods $13,580, work in proces 5$15,820, and raw materials $8,800 2. May 31 irwentories-finished goods $10,260, work in process $17,200, and raw materials $7,640. 3. Debit postings to work in process were direct materials $67,420, direct labor $54,000, and manufacturing overhead applied $43,200. (Assume that averhead applied was equal to overhead incurred.) 4. Sales revenue totaled $232,200. (a) Prepare a condensed cost of goods manufactured schedule for May 2022. Attempts: 0 of 2 used (b) Prepare an income statement for May 2022 through gross profit. (c). Prepare the balance sheet section of the manufacturing imventories at May 31,2022