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Zachary Manufacturing Corporation was started with the issuance of common stock for $50,000. It purchased $6,800 of raw matena and worked on three job orders during Year 1 for which data follow. (Assume that all transactions are for cash unless otherwise ndicated.) Job 1 Job 2 Job 3 Total Direct Raw Materials Uned $1,200 1,800 2,800 $5,800 Direct Labor $2,200 3,900 1.800 $7,900 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 $9,980 cash. Zachary paid $400 for selling and administrative expenses. Actual factory overhead was $5,140, Required a. Record the preceding events in a horizontal statements model. The first event for Year 1 has been recorded as an example, 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 Year 1 Complete this question by entering your answers in the tabs below. Check my work Req A and C Reg D CGM Sched Reg D Inc Stre Red D Bal Sheet Record the preceding events in a horizontal statements model. Record the closing entry for over er underapplied manufacturing overhead in the horrontal amount is insignificant. The first event for Year 1 has been recorded as an example. (Record ach item separately. Enterests of each individualne with a minus sign.) Assets Raw Material Work in Process Finished Goods Have + + ol Equity Comune Retained Stock Eaming 50.000 ol 0 ol ol 0 0 0 Cash Manufacturing Overhead 50,000 (6.800) ol O. ol (2.200) ol ol ol (3.900) 0 0. 0 (1.800) - ol 6.800 (1.200) ol (1.800) 0 - ol c ol- 0 - 0 ol- O- ol 0 1.2001 2.200 1.800 3.000 2800 1.000 o ol ole . ol ol (2.500. ol- ol ol O (6,800) ol + Ol + ol 6,8001 - (1,200) ol 0 1,200 O 0 ol (2,200) ol+ ol 2.2001+ OB ol 0 ol o Ole ol 0+ (1.800) 1,800+ ol ol 0 ol? (3,900) + 01 + 01 O 0 0 0 O ol 0 3,900+ 2,800 1,800 0 0 ol 0 - (2.800) 0 o 01 + (1.800) 01 + ol ol 0 01 + D 0 0 O 50.000 13 700 1,000 0. 35,300 Reg DCGM Sched>