CI 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 Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory Total actual manufacturing overhead costs incurred other costs incurred: 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 $ 15,500 135,000 8,5 75,000 230,700 10.500 $ 475,200 $405,000 $ 65,00 $ 20,500 $30, see $ 40, 500 $ 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: 1. Compute the amount of underapplied or overapplied overhead cost for 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. Required: Required 2 Compute the amount of underapplied or overapplied overhead cost for the year. overhead cost Required 2 > Overapplied Underapplied LG your hswers in the tabs below. Required 1 Required 2 Prepare a schedule of cost of goods manufactured for the year. Chang Company Schedule of Cost of Goods Manufactured Direct materials Add: Beginning work in process inventory Add: Ending raw materials inventory Add: Ending work in process inventory Add: Indirect materials Cost of goods manufactured