E2-9 Prepare a cost of goods manufactured schedule and partial financial statements
At May 31, 2017, the accounts of Lopez Company show the following.
1.	May 1 inventories - finished goods $12,600, work in process $14,700 and raw
	materials $8,200.
2.	May 31 inventories - finished goods $9,500, work in process, $15,900, and raw
	materials $7,100.
3.	Debit postings to work in process were direct materials, $62,400, direct labor $50,000,
	and manufacturing overhead applied $40,000.
4.	Sales revenue totaled $215,000.
Instructions
(a)	Prepare a condensed cost of goods manufactured schedule.
(b)	Prepare an income statement for May through gross profit.
(c )	Indicate the balance sheet presentation of the manufacturing inventories at May 31, 2017.
NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?" .

After you have completed E2-9, consider the following additional question.
1.	Assume that the total costs for direct materials, direct labor and overhead
	changed to $81,400, 63,600 and $45,000 respectively. Show the impact of
	these changes on the cost of goods manufactured schedule, income statement
	and balance sheet.