View Policies Current Attempt in Progress At May 31, 2020, the accounts of Lopez Company show the following. 1 May 1 inventories-finished goods $13,400, work in process $17,200, and raw materials $9,200. 2 May 31 inventories-finished goods $9,900, work in process $18,000, and raw materials $7,900. 3 4. Debit postings to work in process were direct materials $63,600, direct labor $50,600, and manufacturing overhead applied $42,000. (Assume that overhead applied was equal to overhead incurred.) Sales revenue totaled $216.200. (a) Prepare a condensed cost of goods manufactured schedule. LOPEZ COMPANY Cost of Goods Manufactured Schedule Work in Process, May 1 Direct Materials Used Direct Labor Manufacturing Overhead Applied: