The following cost data relate to the manufacturing activities of Newberry Company during the just completed year: Actual manufacturing overhead costs incurred ............... $3 53.000 Direct materials ............................................................... $230000 Direct labor cost .............................................................. $135.000 h1\\'entories: \\\\-"ork in process. beginning ......................................... $20000 Work in process. ending .............................................. $3 5.000 The company uses a predetermined overhead rate to apply manufacturing overhead cost to production. The predetermined overhead rate for the year was $15 per machine-hour. A total of 23,000 machine-hours was recorded for the year. Required: a. Compute the amount of underapplied or overapplied overhead cost for the year. b. Prepare a Schedule of Cost of Goods Manufactured for the year