4. The following cost data relate to the manufacturing activities of Newberry Company during the just completed year: $353,000 $250,000 $135,000 Total actual manufacturing overhead costs incurred (including $15,000 of indirect materials)............... Purchases of raw materials (both direct and indirect). Direct labor cost. Inventories: Raw materials, beginning Raw materials, ending...... Work in process, beginning. Work in process, ending $10,000 $15,000 $20,000 $35,000 The company uses a predetermined overhead rate to apply manufacturing overhead cost to production. The predetermined overhead rate for the year was $15 per machine-hour. A total of 23,000 machine-hours were recorded for the year. Required: a. Compute the amount of underapplied or overapplied manufacturing overhead cost for the year. b. Prepare a Schedule of Cost of Goods Manufactured for the year