The following cost data relate to the manufacturing activities of Chang Company during the just completed year. Manufacturing overhead coats incurred Indirect materials $ 16,000 Indirect labor 140,000 Property taxes, factory 9,000 Utilities, factory 80,000 Depreciation factory 251,500 Insurance, factory 11,000 Total actual manufacturing overhead costs incurred $ 507,500 Other coats incurred purchases of raw materiale (both direct and indirect) $410,000 Direct labor cost $70,000 Inventories Raw materiala, beginning $ 21,000 raw materialsending $ 31,900 Work in process, beginning $41.000 Work in process, ending $71.000 The company uses a predetermined overhead rate of $25 per machine-hour to apply overhead cost to jobs. A total of 20,700 machine-hours were used during the year. Required: 1. Compute the amount of underappiled or overapplied overhead cost for the year. 2. Prepare a schedule of cost of goods manufactured for the year. Required i Required 2 Compute the amount of underapplied or overapplied overhead cost for the year. overhead cost Required 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 Direct materials used in production Total mandatumg costs added to production Total manufacturing costs to account for Cost of goods and actured