Munoz Manufacturing Corporation was started with the issuance of common stock for $55,000. It purchased $7,300 of raw materials and worked on three job orders during 2019 for which data follow. (Assume that all transactions are for cash unless otherwise indicated.) Job 1 Job 2 Job 3 Total Direct Raw Materials Used Direct Labor $1,400 $1,900 2,100 3,800 2,900 1,900 $6,480 $7,600 Factory overhead is applied using a predetermined overhead rate of $0.60 per direct labor dollar. Jobs 2 and 3 were completed during the period and Job 3 was sold for $10,240 cash. Munoz paid $600 for selling and administrative expenses. Actual factory overhead was $5,160. 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 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. Complete this question by entering your answers in the tabs below. Renn CGM Ren D Inc Ren Bal Munoz Manufacturing Corporation was started with the issuance of common stock for $55,000. It purchased $7,300 of raw materials and worked on three job orders during 2019 for which data follow. (Assume that all transactions are for cash unless otherwise indicated.) Job 1 Job 2 Job 3 Total Direct Raw Materials Used Direct Labor $1,400 $ 1,900 2,100 3,800 2,900 1,900 $6,400 $7,600 Factory overhead is applied using a predetermined overhead rate of $0.60 per direct labor dollar. Jobs 2 and 3 were completed during the period and Job 3 was sold for $10,240 cash. Munoz paid $600 for selling and administrative expenses. Actual factory overhead was $5,160. 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 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. Complete this question by entering your answers in the tabs below. Req A to C Reg D CGM Sched Req D Inc Stmt Reg D Bal Sheet Record the preceding events in a horizontal statements model. Reconcile all subsidiary accounts with their respective control accounts. Record the closing entry for over- or underapplied manufacturing overhead in the horizontal statements model, assuming that the amount is insignificant. The first event for 2019 has been recorded as an example. (Enter costs of each job individually. Enter any decreases to account balances with a minus sign.) Show less Assets Raw Material . Cash + Manufacturing. Overhead 55,000 + Work In Process . Finished Goods Equity Common. Retained Stock Earnings 55,000 + Revenue - Expense = Net Income + + + + + + + + + + + + + + + + + + 55,000 + 0= 55,000+ 0 0 Complete this question by entering your answers in the tabs below. Req A to C Reg D CGM Sched Reg D Inc Stmt Reg D Bal Sheet Prepare a schedule of cost of goods manufactured and sold for 2019. MUNOZ MANUFACTURING CORPORATION Cost of Goods Manufactured and sold for 2019 Raw materials available Raw materials used Total manufacturing costs Total work in process inventory Cost of goods manufactured Goods available Cost of goods sold Complete this question by entering your answers in the tabs below. Req A to C Reg D CGM Sched Req D Inc Stmt Reg D Bal Sheet Prepare an income statement for 2019. MUNOZ MANUFACTURING CORPORATION Income Statement for 2019 S 0 Complete this question by entering your answers in the tabs below. Reg A to C Reg D CGM Sched Reg D Inc Stmt Reg D Bal Sheet Prepare a balance sheet for 2019. MUNOZ MANUFACTURING CORPORATION Balance Sheet for 2019 Assets Total assets S Equity Total equity Complete this question by entering your answers in the tabs below. Req A to C Reg D CGM Sched Reg D Inc Stmt Reg D Bal Sheet Prepare a schedule of cost of goods manufactured and sold for 2019. MUNOZ MANUFACTURING CORPORATION Cost of Goods Manufactured and sold for 2019 Raw materials available Raw materials used Total manufacturing costs Total work in process inventory Cost of goods manufactured Goods available Cost of goods sold Complete this question by entering your answers in the tabs below. Req A to C Reg D CGM Sched Req D Inc Stmt Reg D Bal Sheet Prepare an income statement for 2019. MUNOZ MANUFACTURING CORPORATION Income Statement for 2019 S 0 Complete this question by entering your answers in the tabs below. Reg A to C Reg D CGM Sched Reg D Inc Stmt Reg D Bal Sheet Prepare a balance sheet for 2019. MUNOZ MANUFACTURING CORPORATION Balance Sheet for 2019 Assets Total assets S Equity Total equity