ES Exercise 16-9 At May 31, 2017, the accounts of Lopez Company show the following. 1. May 1 Inventories-finished goods $12,600, work in process s14,700, 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. Your answer is partially correct. Try again. Study Prepare a condensed cost of goods manufactured schedule. LOPEZ COMPANY Cost of Goods Manufactured Schedule For the Month Ended May 31 20 14700 Work in Process, May 31 Direct Materials Used Direct Labor ufacturing overhead Applied Total Manufacturing Costs