EXERCISE 3-13 Applying Overhead: Cost of Goods Manufactured (L02, L06, L07] The following cost data relate to the manufacturing activities of Black Company during the just completed year: $3.000 5.000 -10000 24,000 GOO 82000 Manufacturing overhead. costs: Property taxes, factory Utilities, factory direct labor Depreciation, factory Insurance, factory Total actual manufacturing overhead costs Other costs incurred: Barchases of raw materials and Direct labor cost Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning: Work in process, ending $32,000 $40.000 5 $8,000 $7,000 $6,000 $7,500 Hana The company uses a. predetermined overhead rate to apply overhead cost to jobs. The rate for the year was $5 per machine-hour, a total of 10.000 machine-hours was recorded for the year. All raw materials ultimately become direct materials-none are classified as indirect-materials. 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. 3. Cost of goods sold table