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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

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 $ 1,440 30
Job 2 2,400 50
Job 3 1,800 28

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.

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  1. Record the preceding events in a horizontal statements model. The first event for 2019 has been recorded as an example. PLEASE HELP WITH PICTURE BELOW. I AM NOT SURE THE ORDER OR NUMBERS. PLEASE ANSWER IN SAME TEMPLATE AS PROBLEM. THANK YOU!image text in transcribed

Equity Cash + + Assets Raw Materials 0 + + + Revenue Manufacturing Overhead 0 Expenses Work In Process 0 Common Stock 30,000 + + Finished Goods 0 6,160 X (2,310) 0 Retained Earnings 0 (600) 2,690 X Net Income 0 (600) 2,690 X 320 X 6,000 X 5,640 X 5,000 X 0 600 2,310 (12) 30,000 (6,000) (2,160) X (320) X (640) ) (600) X 300 X (5,640) X 640 X (972) X 12 2,160 X 972 X 12 12 (6,160) X 20,580 + 0 360 + 2,612 + 3,850 30,000 2,102 5,000 2,898 2,102

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