At May $31,2027,$ the accounts of Sandhill Company show the following. Your answer is partially correct.

Prepare an income statement for May $2027$ through gross profit.

SANDHILL COMPANY

$($Partial$)$ Income Statement

For the Month Ended May $31,2027$

$

Manufacturine Overhead Adolied

Total Manufacturine Costs

: Your answer is incorrect.

Prepare the balance sheet section of the manufacturing inventories at May $31,2027.$

SANDHILLCOMPANY

$($Partial$)$ Balance sheet

$

$

May $1$ inventories$-$finished goods $$15,080,$ work in process $$17,560,$ and raw materials $$9,760.$

May $31$ inventories$-$finished goods $$11,400,$ work in process $$19,120,$ and raw materials $$8,480.$

Debit postings to work in process were direct materials $$74,920,$ direct labor $$60,000,$ and manufacturing overhead

applied $$48,000.($Assume that overhead applied was equal to overhead incurred.$)$

Sales revenue totaled $$258,000.$