Required 1 Required 2 Prepare a schedule of cost of goods manufactured for the year. Direct materials: q Total raw materials available Raw materials used in production q- I: up Direct materials used in production (1' 1 Cl | E)- Total manufacturing costs added to production Total manufacturing costs to account for i '5 Cost of goods manufactured I ti The following cost data relate to the manufacturing activities of Chang Company during theiust completed year: Manufacturing overhead costs incurred: Indirect materials $ 15,266 Indirect labor 132,666 Property taxes, factory 8,266 Utilities, factory 22,666 Depreciation, factory 152,466 Insurance, factory 16,266 Total actual manufacturing overhead costs incurred $ 393:399 Other costs incurred: Purchases of raw materials (both direct and indirect) $ 462,666 Direct labor cost $ 62,666 Inventories: Raw materials, beginning $ 26,266 Raw materials, ending $ 36,266 work in process, beginning $ 46,266 work in process, ending $ 26,266 The company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost tojobs. A total of19.900 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. ::|