Prairie Roofing Corporation was founded on January 1, 2019, when stockholders contributed $12,000 for common stock. During the year, Prairie purchased $6,400 of direct raw materials and used $5,520 of direct materials. There were 80 hours of direct labor worked at an average rate of $16 per hour paid in cash. The predetermined overhead rate was $13 per direct labor hour. The company started three custom roofing jobs. The job cost sheets reflected the following allocations of costs to each:
_________________________Direct Materials Direct Labor Hours
Roof 1.................................$2,000.................................... 20
Roof 2.................................. 1,120.....................................12
Roof 3.................................. 2,400.................................... 48
The company paid $352 cash for indirect labor costs and $480 cash for production supplies, which were all used during 2019. Actual overhead cost paid in cash other than indirect materials and indirect labor was $288. Prairie completed Roofs 1 and 2 and collected the contract price for Roof 1 of $5,000 cash. The company incurred $992 of selling and administrative expenses that were paid with cash. Over- or under applied overhead is closed to Cost of Goods Sold.
Required
a. Record the preceding events in a horizontal statements model. The first event for 2019 has been recorded as an example.

b. Reconcile all subsidiary accounts with their respective control accounts.
c. Record the closing entry for over- or under applied manufacturing overhead in the horizontal statements model, assuming that the amount is insignificant.
d. Prepare a schedule of cost of goods manufactured and sold, an income statement, and a balance sheet for 2019.

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Assets Equlty Cash + Raw M. + MOH + WIP + F, Goods = C. St. + Ret. Ear. Rev. - Exp. Net Inc. 2,000NA NANANA 12,000 NA NA - NA = NA