3.

The following cost data relate to the manufacturing activities of Chang Company during the just completed year:

Manufacturing overhead costs incurred:
Indirect materials	$	16,500
Indirect labor		145,000
Property taxes, factory		9,500
Utilities, factory		85,000
Depreciation, factory		231,700
Insurance, factory		11,500
Total actual manufacturing overhead costs incurred	$	499,200
Other costs incurred:
Purchases of raw materials (both direct and indirect)	$	415,000
Direct labor cost	$	75,000
Inventories:
Raw materials, beginning	$	21,500
Raw materials, ending	$	31,500
Work in process, beginning	$	41,500
Work in process, ending	$	71,500

The company uses a predetermined overhead rate to apply overhead cost to jobs. The rate for the year was $24 per machine-hour. A total of 21,200 machine-hours was recorded for the year.

Required:

A.	Compute the amount of underapplied or overapplied overhead cost for the year. B. Prepare a schedule of cost of goods manufactured for the year