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 $ 15,800 138,000 8,800 78,000 150,600 10,800 $402,000 Other costs incurred: Purchases of raw materials (both direct and indirect) Direct labor cost $408,000 $68,000 Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending $ 20,800 $30,800 $40,800 $ 70,800 The company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. A total of 20,500 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 Required 1Required 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