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At May 31, 2020, the accounts of Bonita Company show the following. 1. May 1 inventoriesfinished goods $14,800, work in process $17,200, and raw materials

At May 31, 2020, the accounts of Bonita Company show the following.
1. May 1 inventoriesfinished goods $14,800, work in process $17,200, and raw materials $8,500.
2. May 31 inventoriesfinished goods $9,800, work in process $18,600, and raw materials $7,900.
3. Debit postings to work in process were direct materials $63,900, direct labor $52,300, and manufacturing overhead applied $41,100. (Assume that overhead applied was equal to overhead incurred.)
4. Sales revenue totaled $216,800.
Prepare a condensed cost of goods manufactured schedule.
Prepare an income statement for May through gross profit.
Indicate the balance sheet presentation of the manufacturing inventories at May 31, 2020.

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