Chang Company provided the following data for this year:

Manufacturing overhead costs incurred:

Indirect materials $ $16,000$

Indirect labor $140,000$

Property taxes, factory $9,000$

Utilities, factory $80,000$

Depreciation, factory $251,500$

Insurance, factory $11,000$

Total actual manufacturing overhead costs incurred $ $507,500$

Other costs incurred:

Purchases of raw materials $($both direct and indirect$)$ $ $410,000$

Direct labor cost $ $70,000$

Inventories:

Raw materials, beginning $ $21,000$

Raw materials, ending $ $31,000$

Work in process, beginning $ $41,000$

Work in process, ending $ $71,000$

The company uses a predetermined overhead rate of $$25$ per machine$-$hour to apply overhead cost to jobs. A total of $20,700$ machine$-$hours were used during the year.

Required:

Compute the underapplied or overapplied overhead cost.

Prepare a schedule of cost of goods manufactured.