Exercise 15-09 a-c (Video) (Part Level Submission)

At May 31, 2020, the accounts of Concord Company show the following.

1.		May 1 inventoriesfinished goods $13,800, work in process $17,200, and raw materials $9,100.
2.		May 31 inventoriesfinished goods $9,800, work in process $18,600, and raw materials $8,000.
3.		Debit postings to work in process were direct materials $63,600, direct labor $51,800, and manufacturing overhead applied $43,100. (Assume that overhead applied was equal to overhead incurred.)
4.		Sales revenue totaled $216,900.

Prepare a condensed cost of goods manufactured schedule CONCORD COMPANY Cost of Goods Manufactured Schedule For the Month Ended May 31, 2020 Work in Process, May 1 Direct Labor Manufacturing Overhead Applied Total Manufacturing Costs Total Cost of Work in Process Less | | Work in Process, May 31 Cost of Goods Manufactured Prepare an income statement for May through gross profit. LOPEZ COMPANY (Partial) Income Statement