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 incurreds Purchases of raw materials (both direct and indirect) Direct labor cost Inventories: nav materials, beginning Raw materials, ending work in process, beginning Work in process, ending $16,800 140,000 9,800 88,000 295,300 11,800 $569,700 418,000 $70,000 121,000 31,000 41,000 #71,000 The company uses a predetermined overhead rate of $27 per machine-hour to apply overhead cost to jobs. A total of 21,500 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.