Campbell Manufacturing Company was started on January 1, Year 1. The company was affected by the following events during its first year of operation. 1. Acquired $2,300 cash from the issue of common stock. 2. Paid $530 cash for direct raw materials. 3. Transferred $440 of direct raw materials to work in process. 4. Paid production employees $650 cash. 5. Paid $320 cash for manufacturing overhead costs. 6. Applied $205 of manufacturing overhead costs to work in process. 7. Completed work on products that cost $1,090. 8. Sold products that cost $840 for $1,590 cash. 9. Paid $400 cash for selling and administrative expenses. 10. Made a $50 cash distribution to the owners. 11. Closed the Manufacturing Overhead account. Required a. Record these events in a horizontal statements model. The first event is shown as an example. b. Prepare a schedule of cost of goods manufactured and sold. Complete this question by entering your answers in the tabs below. Required A Required B Record these events in a horizontal statements model. The first event is shown as an example. (Enter decreases to account balances with a minus sign.) Event Cash No. Manufacturing Overhead Assets Raw Materials Equity Work in Process Finished Goods Common Stock Retained Earnings Revenue Expense 1. $ 2,300 == $ 2,300+ 2. (530) + 3. 4. 5. 6. 7. 8a. 8b. 9. 10. 11. Total $ (530) + Net Income = = Required a. Record these events in a horizontal statements model. The first event is shown as an example. b. Prepare a schedule of cost of goods manufactured and sold. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a schedule of cost of goods manufactured and sold. CAMPBELL MANUFACTURING COMPANY Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31, Year 1 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 0 0 0 0 0 0 $ 0 < Required A Required B