The following cost data relate to the manufacturing activities of Crystal Corporation during the past year. Manufacturing overhead costs incurred: Indirect materials Indirect labour Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory Total actual costs incurred Other costs incurred: Purchases of raw materials (both direct and indirect) Direct labour cost Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending 34,000 199,000 19,500 102,000 290, eee 15,000 $ 650,500 es $ 500,000 85,000 $ 40,000 30,000 60,000 40,000 The company uses a predetermined overhead rate to apply overhead cost to production. The rate for the year was $33 per machine- hour. A total of 20,000 machine-hours were recorded for the year. Required: 1. Compute the amount of under- or overapplied overhead cost for the year overhead cost 2. Prepare a schedule of cost of goods manufactured for the year. CRYSTAL CORPORATION Schedule of Cost of Goods Manufactured Direct materials: Raw materials available for use Raw materials used in production Total manufacturing costs Total work in process inventory Cost of goods manufactured