Piedmont Company manufactures lightweight backpacking tents. The following cost data relate to the manufacturing activities of Piedmont Company during the just completed year 5 15,300 133,000 8,300 73,000 152,100 10,300 $ 392,000 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: Row sterials, beginning Row materials, ending Work in process, beginning Work in process, ending $ 403,000 $ 63,000 $ 20,300 $ 30,300 $ 40,300 $ 70,300 The company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. A total of 20,000 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 i Required 2 Compute the amount of underapplied or overapplied overhead cost for the year overhead cos! Required 2 > Prepare a schedule of cost of goods manufactured for the year. Piedmont Company Schedule of Cost of Goods Manufactured Direct materials: Total raw materials available Raw materials used in production Total manufacturing costs Cost of goods manufactured