Zachary Manufacturing Corporation was started with the issuance of common stock for $65,000. It purchased $7,600 of raw materials and worked on three job orders during Year 1 for which data follow. (Assume that all transactions are for cash unless otherwise indicated.) 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 $10,600 cash. Zachary paid $700 for selling and administrative expenses. Actual factory overhead was $4,450 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. with a minus sign.) Complete this question by entering your answers in the tabs below. Prepare a schedule of cost of goods manufactured and sold for Year 1 . Zachary Manufacturing Corporation was started with the issuance of common stock for $65,000. It purchased $7,600 of raw materials and worked on three job orders during Year 1 for which data follow. (Assume that all transactions are for cash unless otherwise indicated.) 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 $10,600 cash. Zachary paid $700 for selling and administrative expenses. Actual factory overhead was $4,450 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. with a minus sign.) Complete this question by entering your answers in the tabs below. Prepare a schedule of cost of goods manufactured and sold for Year 1