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

Manufacturing overhead costs incurred:
Indirect materials	$ 15,300
Indirect labor	133,000
Property taxes, factory	8,300
Utilities, factory	73,000
Depreciation, factory	152,100
Insurance, factory	10,300
Total actual manufacturing overhead costs incurred	$ 392,000
Other costs incurred:
Purchases of raw materials (both direct and indirect)	$ 403,000
Direct labor cost	$ 63,000
Inventories:
Raw materials, beginning	$ 20,300
Raw materials, ending	$ 30,300
Work in process, beginning	$ 40,300
Work in process, ending	$ 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.