The following cost data relate to the manufacturing activities of Black Company during the just-completed year: Manufacturing overhead costs: Property taxes, factory $ 4,900 Utilities, factory 7,850 Indirect labour 13,800 Depreciation, factory 28,750 Insurance, factory 9,800 Total actual manufacturing overhead costs $ 65,100 Other costs incurred: Purchases of raw materials. $ 41,500 Direct labour cost $ 53,300 Inventories: Raw materials, beginning $ 11,800 Raw materials, ending $ 8,900 Work in process, beginning $ 8,850 Work in process, ending $ 11,300 The company uses a predetermined overhead rate to apply overhead cost to production. The rate for the year was $7 per machine-hour; a total of 10,000 machine-hours were recorded for the year. All raw materials ultimately become direct materialsnone are classified as indirect materials. 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.