E15 9 Prepare a cost of goods manufactured schedule and

Last updated: 1/29/2024

E15 9 Prepare a cost of goods manufactured schedule and partial financial statements At May 31 2025 the accounts of Lopez Company show the following 1 May 1 inventories finished goods 12 600 work in process 14 700 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 Sales revenue totaled 215 000 4 Instructions a b C Prepare a condensed cost of goods manufactured schedule for May 2025 Prepare an income statement for May 2025 through gross profit Indicate the balance sheet presentation of the manufacturing inventories at May 31 2025 NOTE Enter a formula a cell reference or a value if you are unable to reference a cell into the yellow shaded input cells a LOPEZ COMPANY Cost of Goods Manufactured Schedule For the Month Ended May 31 2025 Work in process May 1 Direct materials used Direct labor Manufacturing overhead applied Total manufacturing costs Total cost of work in process Less Work in process May 31 Cost of goods manufactured