Exercise 3-7 (Algo) Applying Overhead; Cost of Goods Manufactured [LO3-3, LO3-4] Chang Company provided the following data for this year: The company uses a predetermined overhead rate of $24 per machine-hour to apply overhead cost to jobs. A total of 21,200 machinehours were used during the year. Required: 1. Compute the underapplied or overapplied overhead cost. 2. Prepare a schedule of cost of goods manufactured. Required 1