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

Manufacturing overhead costs incurred:
Indirect materials	$	16,600
Indirect labor		146,000
Property taxes, factory		9,600
Utilities, factory		86,000
Depreciation, factory		252,700
Insurance, factory		11,600
Total actual manufacturing overhead costs incurred	$	522,500
Other costs incurred:
Purchases of raw materials (both direct and indirect)	$	416,000
Direct labor cost	$	76,000
Inventories:
Raw materials, beginning	$	21,600
Raw materials, ending	$	31,600
Work in process, beginning	$	41,600
Work in process, ending	$	71,600

The company uses a predetermined overhead rate of $25 per machine-hour to apply overhead cost to jobs. A total of 21,300 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.

Requiged 1 Required 2 Compute the amount of underapplied or overapplied overhead cost for the year. overhead cost 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: Total raw materials available Raw materials used in production Total manufacturing costs Cost of goods manufactured