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E2-9 At May 31, 2005, the accounts of Yellow Knife Manufacturing Company show the following.
Could you pleae help me with this problem.E2-9 At May 31, 2005, the accounts of Yellow Knife Manufacturing Company show thefollowing.1. May 1 inventories-finished goods $12,600, work in process $14,700, and raw materials $8,200.2. May 31 inventories-finished goods $11,500, work in process $17,900, and raw materials $7,100.3. Debit postings to work in process were: direct materials $62,400, direct labor $32,000,and manufacturing overhead applied $48,000.4. Sales totaled $200,000.Instructions(a) Prepare a condensed cost of goods manufactured schedule.(b) Prepare an income statement for May through gross profit.(c) Indicate the balance sheet presentation of the manufacturing inventories at May 31,2005.
