At May 31, 2022, the accounts of Cullumber Company show the following. 1. May 1 inventories-finished...

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At May 31, 2022, the accounts of Cullumber Company show the following. 1. May 1 inventories-finished goods $13,330, work in process $15,530, and raw materials $8.640. 2 May 31 inventories-finished goods $10.070, work in process $16,880, and raw materials $7,500. 3, Debit postings to work in process were direct materials $66,170, direct labor $53,000, and manufacturing overhead applied $42.400. (Assume that overhead applied was equal to overhead incurred.) 4. Sales revenue totaled $227,900 Prepare an income statement for May 2022 through gross profit, CULLUMBER COMPANY (Partial) Income Statement At May 31, 2022, the accounts of Cullumber Company show the following. 1. May 1 inventories-finished goods $13,330, work in process $15,530, and raw materials $8.640. 2 May 31 inventories-finished goods $10.070, work in process $16,880, and raw materials $7,500. 3, Debit postings to work in process were direct materials $66,170, direct labor $53,000, and manufacturing overhead applied $42.400. (Assume that overhead applied was equal to overhead incurred.) 4. Sales revenue totaled $227,900 Prepare an income statement for May 2022 through gross profit, CULLUMBER COMPANY (Partial) Income Statement