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 $ 15,500 135,000 8,500 75,000 230,700 10,500 $475,200 $405,000 $ 65,000 $ 20,500 $ 30,500 $ 40, 500 $ 70,500 The company uses a predetermined overhead rate of $24 per machine-hour to apply overhead cost to jobs. A total of 20,200 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a schedule of cost of goods manufactured for the year. Chang Company Schedule of Cost of Goods Manufactured Beginning work in process inventory Direct materials: Beginning raw materials inventory $ 20,500 Add: Purchases of raw materials 405,000 Total raw materials available 425,500 Prepare a schedule of cost of goods manufactured for the year. Chang Company Schedule of Cost of Goods Manufactured Beginning work in process inventory Direct materials: Beginning raw materials inventory $ 20,500 Add: Purchases of raw materials 405,000 Total raw materials available 425,500 Less: Ending raw materials inventory 30,500 Raw materials used in production 395,000 Less: Indirect materials used in production 15,500 Direct materials used in production Manufacturing overhead applied to work in process Cost of goods manufactured Beginning raw materials inventory Total manufacturing costs added to production Total manufacturing costs to account for + > IX 379,500 484,800 864,300 40,500 1,769,100 1,769,100 Cost of goods manufactured