At May 31, 2020, the accounts of Lopez Company show the following. 1. May 1 inventories—finished goods $15,100, work in process $15,900, and raw materials $8,600. 2. May 31 inventories—finished goods $9,700, work in process $16,400, and raw materials $7,900. 3. Debit postings to work in process were direct materials $63,800, direct labor $51,600, and manufacturing overhead applied $40,100. (Assume that overhead applied was equal to overhead incurred.) 4. Sales revenue totaled $216,400. Prepare a condensed cost of goods manufactured schedule. LOPEZ COMPANY

This activity is important because as a marketing manager, you must allocate resources to reach your target market. during the strategic marketing process, managers move through three important phases to determine how to optimally allocate resources: a planning phase, an implementation phase, and an evaluation phase. in this interactive exercise, you are asked to review various strategic marketing actions and determine where in the strategic marketing process the action would occur. the goal of this exercise is to demonstrate your understanding of the strategic marketing process and related marketing actions.