7 12 points Book Hird Mc Graw Hill The following cost data relate to the manufacturing activities of Chang Company during the just completed year: Manufacturing overhead costs incurred: Indirect materials Indirect labor $ 15,200 132,000 8,208 Property taxes, factory. Utilities, factory 72,000 Depreciation, factory 152,400 10,200 Insurance, factory Total actual manufacturing overhead costs incurred $ 390,000 Other costs incurred: $ 402,000 Purchases of raw materials (both direct and indirect) Direct Labor cost $ 62,000 Inventories: Raw materials, beginning i $ 20,200 Raw materials, ending. $ 30,200 Work in process, beginning $ 40,200 Work in process, ending $ 70,200 The company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. A total of 19,900 machine-hours were used during the year. Required: 1. Compute the amount of underapplied or overapplied overhead cost t the year. 2. Prepare a schedule of cost of goods manufactured for the year. Complete this question by entering your answers in the tabs below.