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The following cost data relate to the manufacturing activities of Chang Company during the just completed year: Manufacturing overhead costs incurred: Indirect materials $ 16,800

The following cost data relate to the manufacturing activities of Chang Company during the just completed year:

Manufacturing overhead costs incurred:
Indirect materials $ 16,800
Indirect labor 148,000
Property taxes, factory 9,800
Utilities, factory 88,000
Depreciation, factory 295,300
Insurance, factory 11,800
Total actual manufacturing overhead costs incurred $ 569,700
Other costs incurred:
Purchases of raw materials (both direct and indirect) $ 418,000
Direct labor cost $ 78,000
Inventories:
Raw materials, beginning $ 21,800
Raw materials, ending $ 31,800
Work in process, beginning $ 41,800
Work in process, ending $ 71,800

The company uses a predetermined overhead rate to apply overhead cost to jobs. The rate for the year was $27 per machine-hour. A total of 21,500 machine-hours was recorded for 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.

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