The following cost data relate to the manufacturing activities of Chang Company during the just completed year:

The following cost data relate to the manufacturing activities of Chang Company during the just completed year: $ Manufacturing overhead costs incurred: Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory 15,600 136,000 8,600 76,000 250,700 10,600 Total actual manufacturing overhead costs incurred $ 497,500 $ 406,000 $ 66,000 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 $ 20,600 $ 30,600 $ 40,600 The company uses a predetermined overhead rate to apply overhead cost to jobs. The rate for the year was $25 per machine-hour. A total of 20,300 machine-hours was recorded for the year. Required: 1. Compute the amount of underapplied or overapplied overhead cost for the year. overhead cost 2. Prepare a schedule of cost of goods manufactured for the year. Chang Company Schedule of Cost of Goods Manufactured Direct materials: Raw materials available for use Raw materials used in production Total manufacturing costs Cost of goods manufactured