The following cost data relate to the manufacturing activities of Chang Company during the just completed year:

$\backslash$begin$\{$tabular$\}\{$lr$\}$

Manufacturing overhead costs incurred: & $\backslash \backslash$

Indirect materials & $15,900\backslash \backslash$

Indirect labor & $139,000\backslash \backslash$

Property taxes, factory & $8,900\backslash \backslash$

Utilities, factory & $79,000\backslash \backslash$

Depreciation, factory & $150,300\backslash \backslash$

Insurance, factory & $10,900\backslash \backslash$

Total actual manufacturing overhead costs incurred & $\backslash (\backslash$$ $404,000\backslash )\backslash \backslash$

Other costs incurred: & $\backslash \backslash$

Purchases of raw materials $($both direct and indirect$)$ & $\backslash (\backslash$$ $409,000\backslash )\backslash \backslash$

Direct labor cost & $\backslash (\backslash$$ $69,000\backslash )\backslash \backslash$

Inventories: & $\backslash (\backslash$$ $20,900\backslash )\backslash \backslash$

Raw materials, beginning & $\backslash (\backslash$$ $30,900\backslash )\backslash \backslash$

Raw materials, ending & $\backslash (\backslash$$ $40,900\backslash )\backslash \backslash$

Work in process, beginning & $\backslash (\backslash$$ $70,900\backslash )$

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The company uses a predetermined overhead rate of $\backslash (\backslash$$ $20\backslash )$ 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.

Prepare a schedule of cost of goods manufactured for the year.