19 The following cost data relate to the manufacturing activities of Black Company during the just completed year: Manufacturing overhead costs: Property taxes, factory Utilities, factory Indirect labour Depreciation, factory Insurance, factory $ 3,300 5,450 10,600 24,750 6,600 Total actual manufacturing overhead costs $50,700 $33,500 $ 42,100 Other costs incurred: Purchases of raw materials. Direct labour cost Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending $ 8,600 $ 7,300 $ 6,450 $ 8,100 The company uses a predetermined overhead rate to apply overhead cost to production. The rate for the year was $5 per machine-hour; 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. 19 cost 2. Prepare a schedule of cost of goods manufactured for the year. BLACK COMPANY Schedule of Cost of Goods Manufactured Direct materials: 0 Raw materials used in production $ 0 Direct labour Total manufacturing cost 0 0 Cost of goods manufactured 0