1. Purchased $2,890 of raw materials with cash. 2. Transferred $3,820 of raw materials to the production department. 3. Incurred and paid cash for 230 hours of direct labor$15.10 per hour 4. Applied overhead costs to the Work in Process Inventory account. The predetermined overhead rate is $16.40 per direct labor hour 5. Incurred actual overhead costs of $4,000 cash. Skipped 6. Completed work on 1,260 units for S5.50 per unit. 7. Paid $1,170 in selling and administrative expenses in cash. 8. Sold 1,260 units for $10,000 cash revenue (assume FIFO cost flow). 9. Zachary charges overapplied or underapplied overhead directly to Cost of Goods Sold. Required a. Record the preceding events in a horizontal statements model. The beginning balances are shown as an example. b. Prepare a schedule of cost of goods manufactured and sold, an income statement, and a balance sheet for 2018. Complete this question by entering your answers in the tabs below Req B CGM Req B Inc Req B Bal Req A Sched Stmt Record the preceding events in a horizontal statements model. The beginning balances are shown as an example. (Enter decreases to account balances with a minus sign.) EventCash Overhead Work in Finished Retained Revenue-Expense Raw Not l Stock B.B. S 5,300 +| $ 1,700| +IS 890| +IS 2.185.-IS 4,075| +| S 6,000 8a. 8b. Total $ 5,300S 0 ,700 890 2,185 4.075 6,000 Complete this question by entering your answers in the tabs below Req B CGM Sched Req A Sheet Prepare a schedule of cost of goods manufactured and sold for 2018 ZACHARY MANUFACTURING COMPANY Cost of Goods Manufactured and Sold For the Year Ended December, 2018 Raw materials available Raw materials used Total manufacturing costs Total work in process inventory Cost of goods manufactured Cost of goods available for sale Cost of goods sold Req B Inc Stmt> Req A Complete this question by entering your answers in the tabs below Req B CGM Sched Req B IncReq B Bal Stmt Req A Sheet Prepare an income statement for 2018. ZACHARY MANUFACTURING COMPANY Income Statement For the Year Ended December, 2018 Req B CGM Sched Req B Bal Sheet> Complete this question by entering your answers in the tabs below. Req B CGM Sched Req BInc Req B Bal Sheet Req A Stmt Prepare a balance sheet for 2018. ZACHARY MANUFACTURING COMPANY Balance Sheet At December, 2018 Assets Total assets Equity Total equity