At May 31, 2022, the accounts of Sunland Company show the following. 1. May 1 inventories-finished goods $14,580, work in process $16,980, and raw materials $9,440. 2. May 31 inventories-finished goods $11,020, work in process $18,480, and raw materials $8,200. 3. Debit postings to work in process were direct materials $72,420, direct labor $58,000, and manufacturing overhead applied $46,400. (Assume that overhead applied was equal to overhead incurred.) 4. Sales revenue totaled $249,400. (a) Your answer is correct. Prepare a condensed cost of goods manufactured schedule for May 2022. SUNLAND COMPANY Cost of Goods Manufactured Schedule Question 5 of 8 < > Work in Process, May 1 Direct Materials Used Direct Labor Manufacturing Overhead Applied Total Manufacturing Costs Total Cost of Work in Process SUNLAND COMPANY Cost of Goods Manufactured Schedule For the Month Ended May 31, 2022 Less Work in Process, May 31 3 Cost of Goods Manufactured eTextbook and Media +A 72420 58000 46400 +A 1/3 16980 176820 193800 (18480) 175320 Question 5 of 8 < > Sales Revenue Cost of Goods Sold Finished Goods, May 1 Cost of Goods Manufactured Cost of Goods Available for Sale SUNLAND COMPANY (Partial) Income Statement For the Month Ended May 31, 2022 A < 14580 i 175320 189900 i Less Finished Goods, May 31 11020 i Cost of Goods Sold Gross Profit +A +A 2/3 249,400 178880 70520 Prepare the balance sheet section of the manufacturing inventories at May 31, 2022. SUNLANDCOMPANY (Partial) Balance sheet eTextbook and Media List of Accounts $ $ ,