Exercise 3-7 (Algo) Applying Overhead; Cost of Goods Manufactured [LO3-3, LO3-4] The following cost data relate to the manufacturing activitios of Chang Company during the just completed year: The company uses a predetermined overhead rote of $24 per machine-hout to apply overhead cost to jobs. A total of 20,200 mochine hours wore used duning the year. Required: 1. Compute the amount of underapplied or overapolied overnead cost for the year. 2. Propare a sehedule of cost of goods manufactured for the yeat. 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. Compute the amount of underapplied or overapolied overhead cost for the year. Prepare a schedule of cost of goods manufactured for the year