Piedmont Company manufactures lightweight backpacking tents. The following cost data relate to the manufacturing activities of Piedmont Company during the just completed year: $ 15,900 139,000 8.900 79,000 150,300 10.900 $404,000 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 $409,000 $ 69,000 $ 20,900 530,900 540,900 $ 70.900 The company uses a predetermined overhead rate of $20 per machine hour to apply overhead cost to jobs. A total of 20,600 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 overhead cost