The following cost data relate to the manufacturing activities of Chang Company during the just completed year: Manufacturing overhead costs incurred: Indirect materials $ 16,400 Indirect labor 144,000 Property taxes, factory 9,400 Utilities, factory 84,000 Depreciation, factory 210,900 Insurance, factory 11,400 Total actual manufacturing overhead costs incurred $ 476, 100 Other costs incurred: Purchases of raw materials (both direct and indirect) $ 414,000 Direct labor cost $ 74,000 Inventories: Raw materials, beginning $ 21,400 Raw materials, ending $ 31,400 Work in process, beginning $ 41,400 Work in process, ending $ 71,400 The company uses a predetermined overhead rate of $23 per machine-hour to apply overhead cost to jobs. A total of 21100 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. Prepare a schedule of cost of goods manufactured for the year. Chang Company Schedule of Cost of Goods Manufactured Direct materials: Total raw materials available Raw materials used in production Direct materials used in production $ 0 0 Total manufacturing costs added to production Total manufacturing costs to account for 0 Cost of goods manufactured