The following cost data relate to the manufacturing activities of Chang Company during the just completed year Manufacturing overhead costs incurred: Indirect materials $ 17,000 Indirect labor 150,000 Property taxes, factory Utilities, factory 10,000 90.000 Depreciation, factory 147,000 Insurance, factory 12,000 Total actual manufacturing overhead costs incurred 5 426,000 Other costs incurred: Purchases of raw materials (both direct and indirect) $ 420,000 Direct labor cost $ 80,000 Inventories: Raw materials, beginning $ 22,000 Raw materials, ending $ 32,000 Work in process, beginning $ 42,000 Work in process, ending $ 72.000 The company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. A total of 21700 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. Required 1 Required 2 Compute the amount of underapplied or overapplied overhead cost for the year, Direct labor cost $ 80.000 Inventories: Raw materials, beginning $ 22,000 Raw materials, ending $ 32,000 Work in process, beginning $ 42,000 Work in process, ending $ 72,000 The company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. A total of 21700 machine hours were used during the year. Required: 1. Compute the amount of underapplied or overapplled overhead cost for the year 2. Prepare a schedule of cost of goods manufactured for the year. d Complete this question by entering your answers in the tabs below. Required Required 2 Compute the amount of underapplied or overapplied overhead cost for the year. Overapplied overhead COS Required 2 > Prepare a schedule of cost of goods manufactured for the year. Chang Company Schedule of Cost of Goods Manufactured Direct materials: X Total raw materials available $ 3 > Raw materials used in production 3 Direct materials used in production $ 0 0 Total manufacturing costs added to production Total manufacturing costs to account for 0 3 Cost of goods manufactured