Question 11 of 13 < > 0.33/1 Current Attempt in Progress At May 31, 2020, the accounts of Lopez Company show the following. 1. 2 3. May 1 inventories-finished goods $15,000, work in process $16,900, and raw materials $9,300. May 31 Inventories-finished goods $9,900, work in process $17,100, and raw materials $7,300. Debit postings to work in process were direct materials $64,500, direct labor $52,400, and manufacturing overhead applied $42,700. (Assume that overhead applied was equal to overhead incurred.) 4. Sales revenue totaled $216,500. (a) Your answer is correct. Prepare a condensed cost of goods manufactured schedule. cin Process, May 1 t Materials Used Labor facturing Overhead Applied Manufacturing Costs Cost of Work in Process Work in Process, May 31 of Goods Manufactured LOPEZ COMPAN Cost of Goods Manufactured Schedule For the Month Ended May 31, 2020 64.500 52.400 42,700 eTextbook and Media III 16 159 176 -$17,100 $159.