The following cost data relate to the manufacturing activities of Crystal Corporation during the past year: Manufacturing overhead costs incurred: Indirect materials $ 34,666 Indirect labour 196,666 Property taxes, factory 19,566 Utilities, factory 162,666 Depreciation, factory 296,666 Insurance, factory 15,666 Total actual costs incurred 5. 656,566 Other costs incurred: Purchases of raw materials (both direct and indirect) $ 566,666 Direct labour cost 85,666 Inventories: Flaw materials, beginning S 46,666 Raw materials, ending 36,666 Work in process, beginning 66,666 work in process, ending 46,666 The company uses a predetermined overhead rate to apply overhead cost to production. The rate for the year was $33 per machine- hour. A total of 20,000 machine-hours were recorded for the year. Required: 1. Compute the amount of under- or overapplied overhead cost for the year. 0 Answer is complete and correct. Overapplied 9 $ 9,500 9 7 2. Prepare a schedule of cost of goods manufactured for the year. 0 Answer is not complete. Direct materials: Raw materials inventory, beginning $ 40,000 a Add: Purchases of raw materials 500,000 0 Raw materials available for use 540,000 Deduct: Raw materials inventory, ending (30,000) 0 Raw materials used in production 510,000 Deduct: Indirect materials $ 510,000 Manufacturing overhead cost applied to work in process 660,000 a Direct labour Raw materials inventory, beginning Total manufacturing costs 1,295,000 Add: Work in process, beginning 60,000 a Total work in process inventory 1,355,000 Deduct: Work in process, ending {40,000} a Cost of goods manufactured $ 1,315,000