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

$$400,000$

$$60,000$

$$20,000$

$$30,000$

$$40,000$

$$70,000$

The company uses a predetermined overhead rate of $$25$ per machine$-$hour to apply overhead cost to jobs. A total of $19,400$ machine$-$

hours were used during the year.

Required:

Compute the amount of underapplied or overapplied overhead cost for the year.

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.