Exercise 3-12 Applying Overhead; Cost of Goods Manufactured [LO3-2, LO3-6, LO3-7] 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 $ 16,200 142,000 9,200 82,000 169,900 11,200 Total actual manufacturing overhead costs incurred $430,500 Other costs incurred Purchases of raw materials (both direct and indirect Direct labor cost $412,000 $ 72,000 Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending $ 21,200 $ 31,200 $ 41,200 $71,200 The company uses a predetermined overhead rate to apply overhead cost to jobs. The rate for the year was $21 per machine-hour. A total of 20,900 machine-hours was recorded for the year