At May 31, 2005, the accounts of Yellow Knife Manufacturing 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 $11,500, work in process $17,900,

At May 31, 2005, the accounts of Yellow Knife Manufacturing 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 $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.