The following cost data relate to the manufacturing activities of Chang Company during the just completed year $ 16,600 146,000 9.600 86,000 252,700 11.600 $ 522,500 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 Work in process, beginning Work in process, ending $ 416,000 $ 76,000 5 21,600 31,600 $ 41,600 $ 21,600 The company uses a predetermined overhead rate of $25 per machine-hour to apply overhead cost to jobs. A total of 21,300 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: Required 2 Compute the amount of underapplied or overapplied overhead cost for the year Overapplied overhead.com $ 10,000 RAM Required 2 > The company uses a predetermined overhead rate of $25 per machine-hour to apply overhead cost to jobs. A total of 21,300 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 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 material Inventory 5 21.600 Add Manufacturing overhead cost 416 000 Total raw materials available 437,600 Less Ending raw materials inventory 11,600 Raw materials used in production 406,000 Less Ending work in process inventory 16 600 Direct materials used in production Direct labor Manufacturing overhead applied to work in process Cost of goods manufactured Total manufacturing costs added to production Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured $ 389,400 532 500 921.900 921,900 71,600 988 500 5 Required 1