Chang Company provided the following data for this year:

Manufacturing overhead costs incurred:

Indirect materials $ $15,500$

Indirect labor $135,000$

Property taxes, factory $8,500$

Utilities, factory $75,000$

Depreciation, factory $230,700$

Insurance, factory $10,500$

Total actual manufacturing overhead costs incurred $ $475,200$

Other costs incurred:

Purchases of raw materials $($both direct and indirect$)$ $ $405,000$

Direct labor cost $ $65,000$

Inventories:

Raw materials, beginning $ $20,500$

Raw materials, ending $ $30,500$

Work in process, beginning $ $40,500$

Work in process, ending $ $70,500$

The company uses a predetermined overhead rate of $$24$ per machine$-$hour to apply overhead cost to jobs. A total of $20,200$ machine$-$hours were used during the year.

Required:

Compute the underapplied or overapplied overhead cost.

Prepare a schedule of cost of goods manufactured.Complete this question by entering your answers in the tabs below.

Required $2$

Prepare a schedule of cost of goods manufactured.