Piedmont Company manufactures lightweight backpacking tents. The following cost data relate to the manufacturing activities of Piedmont Company during the just completed year: Manufacturing overhead costs incurred: Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory Total actual manufacturing overhead costs incurred Other costs incurred: Purchases of raw materials (both direct and indirect) Direct labor cost Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending $ 15,100 131,000 8,100 71,000 269,100 10,100 $504,400 $401,000 $ 61,000 $ 20,100 $ 30,100 $ 40,100 $ 70,100 The company uses a predetermined overhead rate of $26 per machine-hour to apply overhead cost to jobs. A total of 19,800 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. The company uses a predetermined overhead rate of $26 per machine-hour to apply overhead cost to jobs. A total of 19,800 machin 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 < Required 1 Required 2 > Required 1 Required 2 Prepare a schedule of cost of goods manufactured for the year. Direct materials: Piedmont Company Schedule of Cost of Goods Manufactured Total raw materials available Raw materials used in production Total manufacturing costs Cost of goods manufactured EA 0 0