The following cost data relate to the manufacturing activities of Chang Company during the just completed year: $ 15, 600 136,000 8, 600 76,000 250, 700 10, 600 $ 497, 500 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 Tork in process, beginning Work in process, ending $ 406,000 $ 66,000 $ $ $ $ 20, 600 30, 600 40, 600 70, 600 The company uses a predetermined overhead rate of $25 per machine-hour to apply overhead cost to jobs. A total of 20,300 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