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 Other costs incurred: Purchases of raw materials (both direct and indirect) Direct labor cost Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending $ 15,900 139,000 8,900 79,000 150,300 10,900 $ 404,000 $ 409,000 $ 69,000 $ 20,900 $ 30,900 $ 40,900 $ 70,900 The company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. A total of 20,600 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. Complete this question by entering your answers in the tabs below. ht of underapplied or overapplied overhead cost for the year. Overapplied overhead cost $ 8,000 Prepare a schedule of cost of goods manufactured for the year. Chang Company Schedule of Cost of Goods Manufactured Direct materials: Beginning raw materials inventory $ 20,900 Add: Purchases of raw materials 409,000 Total raw materials available 429,900 Less: Ending raw materials inventory (30,900) Raw materials used in production 399,000 Less: Indirect materials used in production Direct materials used in production Direct labor Manufacturing overhead applied to work in process Total manufacturing costs added to production Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured $ 399,000 69,000 404,000 < Required 1 Required 2 872,000 872,000 (70,900)