The following cost data relate to the manufacturing activities of Chang Company during the just completed year Manufacturing overhead costs incurred Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory Total actual manufacturing overhead costs Other costs incurred: Purchases of raw materials (both direct and indirect) $ 16,400 144,000 9,400 84,000 210,900 11,400 $476,100 incurred $414,000 74,000 or cost Inventories: $ 21,400 $ 31,400 $ 41,400 $ 71,400 Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending The company uses a predetermined overhead rate of $23 per machine-hour to apply overhead cost to jobs. A total of 21,100 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