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 Total actual manufacturing overhead costs incurred 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 $ 15,500 135,000 8,500 75,000 230,700 10,500 $ 475,200 $ 405,000 $ 65,000 $ 20,500 $ 30,500 $ 40, 500 $ 70,500 The company uses a predetermined overhead rate of $24 per machine-hour to apply overhead cost to jobs. A total of 20,200 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 Prepare a schedule of cost of goods manufactured for the year. Chang Company The following cost data relate to the manufacturing activities of Chang Company during the just completed ye 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: Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending $ 15,500 135,889 8,500 75,000 230, 700 10,580 $ 475 2ee $ 405,000 $ 65,000 20,5ee $ 39,500 $ 40, 500 $ 70, see The company uses a predetermined overhead rate of $24 per machine-hour to apply overhead cost to jobs. A 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 Prepare a schedule of cost of goods manufactured for the year Chang Company Schedule of Cost of Goods Manufactured Direct materials: Beginning raw materials inventory $ 20,500 Add Purchases of raw materials 405,000 Total raw materials available 425 500 Less: Ending raw materials Inventory 30,500 Raw materials used in production 395,000