Exercise 15-09 At May 31, 2020, the accounts of Lopez Company show the following 1. May 1 Inventories-finished goods $14,300, work in process $15,100, and low materials $8,900. 2. May 31 Inventories-finished goods $9,600, work in process $16,100, and raw materials $7,600. 3. Debit postings to work in process were direct materials $62,800, direct labor $53,100, and manufacturing overhead applied $42,300. (Assume that overhead applied was equal to overhead incurred.) 4. Sales revenue totaled $216,200. Prepare a condensed cost of goods manufactured schedule. LOPEZ COMPANY Cost of Goods Manufactured Schedule AT Stop sharing Hide mamity.com is sharing your screen. OURCES 4. Sales revenue totaled $216,200. Prepare a condensed cost of goods manuachared schedule LOPEZ COMPANY Cost of Goods Manufactured Schedule BY Cost of Goods Manufactured Direct Labor Direct Materials Used Manufacturing Overhead Applied Total Cost of Work in Process Total Manufacturing Costs Work in Process, May 1 Work in Process, May 31 Raw Materials, May 1 Raw Materials, May 31 Finished Goods, May 1 Finished Goods, May 31 Sales Revenue Cost of Goods Sold Cost of Goods Available for Sale Gross Profit Prepare an income statement for May through gross profit. Prepare a condensed cost of goods manufactured schedule. LOPEZ COMPANY Cost of Goods Manufactured Schedule are an income statement for May through gross profit. Prepare an Income statement for Nay through grocs profit LOPEZ COMPANY (Partial) Income Statement adicate the balance sheet presentation of the manufacturing inventories at May 31, 2020. LOPEZ COMPANY innan Indicate the balance sheet presentation of the manufacturing Irwantories at May 31, 2020. LOPEZ COMPANY (Partial) Balance sheet 1- Click if you would like to Show Work for this question: Open Show Work