Manufacturing overhead costs incurred: Indirect materials $ 15,600 Indirect labor 136,000 Property taxes, factory 8,600 Utilities, factory 76,000 Depreciation, factory 250,700 Insurance, factory 10.600 Total actual manufacturing overhead costs incurred $ 497,500 Other costs incurred: Purchases of raw materials (both direct and indirect) $ 406,000 Direct labor cost $ 66,000 Inventories: Raw materials, beginning $ 20,600 Raw materials, ending $ 30,600 Work in process, beginning $ 40,600 Work in process, ending $ 70,600 The company uses a predetermined overhead rate of $25 per machine-hour to apply overhead cost to jobs. A total of 20,300 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 1 Required 2 Compute the amount of underapplied or overapplied overhead cost for the year, overhead cost Prepare a schedule of cost of goods manufactured for the year. Chang Company Schedule of Cost of Goods Manufactured Direct materials: Total raw materials available Raw materials used in production Direct materials used in production Total manufacturing costs added to production Total manufacturing costs to account for Cost of goods manufactured