The following cost data relate to the manufacturing activities of Black Company during the just completed year Manufacturing overhead costs incurred: 2,900 5,000 9,900 23,900 5,900 Property taxes, factory Utlities, factory Indirect labor Depreciation, factory Insurance, factory Total actual manufacturing overhead costs $47.800 Other costs incurred: Purchases of raw materials Direct labor cost $32.400 $39.500 Inventories Raw materials, beginning Raw materials, ending Work in process, beginning S 8.800 8 200 s 6.200 Work in process, ending s 6.600 The company uses a predetermined overhead rate to apply overhead cost to jobs. The rate for the year was $5 per machine-hour, a total of 10.700 machine-hours was recorded for the year. All raw materials ultimately become direct materials-none are dlassified as indirect materials Required: 1. Compute the amount of underapplied or overapplied overhead cost for the year. oost 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 Total manufacturing cost Cost of goods manufactured