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 $ 15,700 137,000 Utilities, factory Property taxes, factory Depreciation, factory nufacturing overhead costs incurred Insurance, factory Total Other costs Purchases of raw materials (both direct and indirect) Direct labor cost Inventories: Raw materials, beginning 8,700 77,000 270,900 10,700 $520,000 $ 407,000 $ 67,000 $ 20,700 Raw materials, ending Work in process, beginning Work in process, ending $ 30,700 40,700 70,700 es The company uses a predetermined overhead rate of $26 per machine-hour to apply overhead cost to jobs. A total of 20,4 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. overhead cost Required 2 > The company uses a predetermined overhead rate of $26 per machine-hour to apply overhead cost to jobs. A total of 20,400 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 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 Direct materials used in production Total manufacturing costs added to production Total manufacturing costs to account for Cost of goods manufactured $ 0 0 0