15 Campbell Manufacturing started in 2018 with the following account balances: Cash $5,700 5,120 6, 000 2,200 Common stock Retained earnings Raw materials inventory Work in process inventory Finished goods inventory (400 units $5.90 each) 860 2,360 Transactions during 2018 1. Purchased $2,890 of raw materials with cash. 2. Transferred $3,770 of raw materials to the production department. 3. Incurred and paid cash for 180 hours of direct labor$15.20 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 $3,000 cash. 6. Completed work on 1,280 units for $5.50 per unit. 7. Paid $1,190 in selling and administrative expenses in caslh 8. Sold 1,280 units for $10,400 cash revenue (assume FIFO cost flow). 9. Campbell charges overapplied or underapplied overhead directly to Cost of Goods Sold. Required a. Record the preceding events in a horizontal statements model. The beginning balances are shown as an example b. Prepare a schedule of cost of goods manufactured and sold, an income statement, and a balance sheet for 2018 Complete this question by entering your answers in the tabs below. 15 Complete this question by entering your answers in the tabs below Req B Inc Req B Bal Sheet Req B CGM Sched Req A Stmt Record the preceding events in a horizontal statements model. The beginning balances are shown as an example. (Enter decreases to account bal Equity Asscts Event No Raw Work in Finished Common Retained Net Cash + Manufacturing Revenue Expense Materials Process Goods Stock Earnings B.B. 5,700 +S 2,200S 860 2.360$ 5,1206,000 2. 3. 5. 6. 8b Total Req A Req B CGM Sched > Req B CGMReq B Inc Req B Bal Sched Sheet Prepare a schedule of cost of goods manufactured and sold for 2018. CAMPBELL 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 CGM Sched ED 15 Req B CGM Sched Rq IncReq B Bal Stmt Req A Sheet Prepare a balance sheet for 2018. CAMPBELL MANUFACTURING COMPA Balance Shect At December, 2018 Assets Total assets Equity Total equity Req B Inc Stmt Req B Bal Sheet