The following cost data relate to the manufacturing activities of Chang Company during the just completed year Manufacturing overhead costs incurredt 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 Inventortest Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending $ 16,800 148.000 9,800 88, 295,300 11.500 3569,700 $410,000 $ 28,00 $ 21,800 $ 31,se 5.41.800 $ 71.800 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 > 10, wirect Labor COST Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending $ 21,800 $ 31,800 $ 41,800 $ 71,800 The company uses a predetermined overhead rate of $27 per machine-hour to apply overhead cost to jobs. A total of 21500 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. Required 1 Required 2 Compute the amount of underapplied or overapplied overhead cost for the year. overhead cost Required 23 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 Direct materials: Total raw materials available Raw materials used in production Total manufacturing costs Cost of goods manufactured