1. compute the amount of over applied or under applied overhead cost for the year

2. determine the cost of goods manufactured for the year

The following cost data relate to the manufacturing activities of Black Diamond Ski Company during 2013: Manufacturing Overhead Costs: Property taxes, factory Utilities, factory Indirect labor Depreciation, factory Insurance, factory Total Actual Manufacturing OH Costs $ 3,000 $ 5,000 $10,000 $24,000 $ 6,000 $48,000 Other Costs Incurred: Purchases of raw materials Direct labor costs $32,000 $40,000 The Black Diamond Ski Company used 10,200 machine hours during the period. Inventories: Raw Materials, 1/1/13 Raw Materials, 12/31/13 Work in Process, 1/1/13 Work in Process, 12/31/13 $ 8,000 $ 7,000 $ 6,000 $ 7,500 The company uses normal costing to record product costs. The company budgeted for $52,500 in total overhead costs for the year. The cost driver associated with the overhead is machine hours and the company expected to use 10,500 machine hours. REQUIRED: 1.) Compute the amount of over-applied or under-applied overhead cost for the year. 2.) Determine the cost of goods manufactured for the year