*****PLEASE HELP WITH PART C ONLY**

Exercise 15-9 (Part Level Submission) At May 31, 2017, the accounts of Lopez Company show the following 1. May 1 inventories-finished goods $15,300, work in process $15,800, and raw materials $9,000 2. May 31 inventories-finished goods $9,800, work in process $16,300, and raw materials $7,700 3. Debit postings to work in process were direct materials $63,000, direct labor $51,800, and manufacturing overhead applied $41,700 4. Sales revenue totaled $216,100 Your answer is correct. Prepare a condensed cost of goods manufactured schedule LOPEZ COMPANY Cost of Goods Manufactured Schedule For the Month Ended May 31, 2017 Work in Process, May 1 15800 Direct Materials Used 63000 Direct Labor 51800 Manufacturing Overhead Applied 41700 Total Manufacturing Costs 156500 Total Cost of Work in Process 172300 Less Work in Process, May 31 16300 Cost of Goods Manufactured 156000 (b) Prepare an income statement for May through gross profit. LOPEZ COMPANY Partial) Income Statement Click if you would like to Show Work for this question: Open Show Work (c) Your answer is partially correct. Try again. Indicate the balance sheet presentation of the manufacturing inventories at May 31, 2017. LOPEZ COMPANY (Partial) Balance sheet May 31, 2017 Current Assets Total Current Assets Click if you would like to Show Work for this question: Open Show Work