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The following cost data relate to the manufacturing activities of Black Company during thejust-completed year: Manufacturing overhead costs: Property taxes, factory $ 4,700 Utilities, factory 7,550 Indirect labour 13,400 Depreciation, factory 28,250 Insurance, factory 9,400 Total actual manufacturing overhead $63,300 costs Other costs incurred: Purchases of raw materials. $40,500 Direct labour cost $ 51,900 Inventories: Raw materials, beginning $ 11,400 Raw materials, ending $ 8,700 Work in process, beginning $ 8,550 Work in process, ending $10,900 The company uses a predetermined overhead rate to apply overhead cost to production. The rate for the year was $6 per machinehour; a total of 11,000 machine hours were recorded for the year. All raw materials ultimately become direct materials none are classified as indirect materials. Required: 1. Compute the amount of underapplied or overapplied overhead cost for the year. Logan Products computes its predetermined overhead rate annually on the basis of direct labourhours. At the beginning of the year, it estimated that its total manufacturing overhead would be $614,200 and the total direct labour would be 41,500 hours. Its actual total manufacturing overhead for the year was $742,200 and its actual total direct labour was 42,500 hours. Required: Compute the company's predetermined overhead rate for the year, calculate the total overhead applied, and determine the amount of under- or overapplied overhead in the year. (Round your predetermined overhead rate to 2 decimal places.) Predetermined overhead rate - per DLH 2. Prepare a schedule of cost of goods manufactured for the year. Direct materials: Raw materials used in production Total manufacturing cost _- Cost of goods manufactured