Moreno Manufacturing Corporation was started with the issuance of common stock for $60,000. It purchased $7,200 of raw materials and worked on three job orders during 2015 for which data follow. (Assume that all transactions are for cash unless otherwise indicated.) Direct Raw Materials Used Direct Labor Job 1 $ 1,200 $ 2,100 Job 2 1,900 3,900 Job 3 3,300 1,900 Total $ 6,400 $ 7,900 Factory overhead is applied using a predetermined overhead rate of $0.50 per direct labor dollar. Jobs 2 and 3 were completed during the period and Job 3 was sold for $10,250 cash. Moreno paid $300 for selling and administrative expenses. Actual factory overhead was $4,350. Required: a.b.&c. Record the preceding events and the closing entry for over- or underapplied manufacturing overhead in the horizontal statements model. Reconcile all subsidiary accounts with their respective control accounts.