CONTUEN E209 (LO 1,5) Al May 31, 2020, the accounts of Lopez Company show the following 1. May I inventones-finished goods $12.600 work in process $14.700, and raw materials $8.200 2. May 31 inventories-finished goods 89.500, work in process $15.900, and raw materials $7.100 3. Debit postings to work in process were direct materials S62.400. direct labor $50.000, and manufacturing overhead applied $40.000. Assume that overhead applied was equal to over- head incurred 4. Sales revenue totaled $215,000 Instructions . Prepare a condensed cost of goods manufactured schedule for May 2020. b. Prepare an income statement for May 2020 through gross protit. c Indicate the balance sheet presentation of the manufacturing inventories at May 31, 2020