The following cost data relate to the manufacturing activities of Black Company during the just complet ed year: Manufacturing overhead costs incurred: Property taxes, factory Utilities, factory Indirect labor Depreciation, factory Insurance, factory 2,800 5,000 9,900 24,000 5,900 Total actual manufacturing overhead costs $47,600 Other costs incurred: Purchases of raw materials Direct labor cost $31,300 $39,100 Inventories Raw materials, beginning Raw materials, ending $8,200 7,000 Work in process, beginning 5,300 7,600 Work in process, ending was $5 per machine-hour, a total of 11,800 machine-hours was recorded for the year The company uses a predetermined overhead rate to apply overhead cost to jobs. The rate for the year All raw materials uiltimately become direct materials-none 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 using the indirect method. (Enter all deductions as a negative.) Black Company Schedule of Cost of Goods Manufactured Direct materials Raw materials available for use Raw materials used in production Cost of goods manufactured