1. Compute the amount of underapplied or overapplied overhead cost for the year.

2. Prepare a schedule of cost of goods manufactured for the year using the indirect method. (Enter all deductions as a negative.)

The following cost data relate to the manufacturing activities of Black Company during the just completed year: $ 2,800 5,000 9,800 23,900 5,800 $47,300 Manufacturing overhead costs incurred: Property taxes, factory Utilities, factory Indirect labor Depreciation, factory Insurance, factory Total actual manufacturing overhead costs Other costs incurred: Purchases of raw materials Direct labor cost Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning $32,800 $39,900 $ 8,200 $ 6,600 $ 5,800 $ 7,800 Work in process, ending The company uses a predetermined overhead rate to apply overhead cost to jobs. The rate for the year was $5 per machine-hour; a total of 10,100 machine-hours was recorded for the year. All raw materials ultimately become direct materials-none are classified as indirect materials