2) The following cost data relate to the manufacturing activities of the Kamas Company during the most recent year: Manufacturing overhead costs incurring during the year: Property taxes $1,600 Utilities, factory 2,600 Indirect labour 5,100 Depreciation, factory 13,000 Insurance, factory 2,500 Total Costs $24,800 Other costs incurring during the year: Purchase of raw materials $15,000 Direct labour cost 22,000 Inventories: Raw materials, beginning $5,000 Raw materials, ending 4,400 Work in process, beginning 3,500 Work in process, ending 4,500 The company uses a predetermined overhead rate to charge overhead cost to production. The rate for the year just completed was $4.00 per machine-hour; a total of 6,000 machine-hours were recorded for the year. Required: a. Compute the amount of underapplied or overapplied overhead cost for the year just ended. b. Prepare a schedule of cost of goods manufactured for the year. PROS