Job-order costing system Ladora Construction Company began operations on January 1, 2019, when it acquired $30,000 cash from the issuance of common stock. During the year, Ladora purchased $6,000 of direct raw materials and used $5,640 of the direct materials. There were 108 hours of direct labor worked at an average rate of $20 per hour paid in cash. The predetermined overhead rate was $9 per direct labor hour. The company started construction on three prefabricated buildings. The job cost sheets reflected the following allocations of costs to each building: Direct Materials Direct Labor Hours Job 1 Job 2 Job 3 Job 2 $1,440 2.400 1,800 The company paid $320 cash for indirect labor costs. Actual overhead cost paid in cash other than indirect labor was $640. Ladora completed Jobs 1 and 2 and sold Job 1 for $5,000 cash. The company incurred $600 of selling and administrative expenses that were paid in cash. Over- or underapplied 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. Required a. Record the preceding events in a horizontal statements model. The first event for 2019 has been recorded as an example. Assets Cash + Raw M. + MOH 30,000 + NA + NA - + + Equity + F. Goods = C. Stk + Ret. Ear. + NA = 30,000 + NA = WIP NA Rev. NA Exp. NA Net Inc. NA b. Reconcile all subsidiary accounts with their respective control accounts. c. Record the closing entry for over- or underapplied 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