The following cost data relate to the manufacturing activities of Chang Company during the just completed year: $ 16,700 147,000 9,700 87,000 273,900 11,700 $ 546,000 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 $ 417,000 $ 77,000 $ 21,700 $ 31,700 $ 41,700 $ 71,700 The company uses a predetermined overhead rate of $26 per machine-hour to apply overhead cost to jobs. A total of 21,400 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. Required 1 Required 2 Compute the amount of underapplied or overapplied overhead cost for the year. Overapplied overhead cost Chang Company Schedule of Cost of Goods Manufactured Direct materials: Beginning raw materials inventory Total raw materials available Raw materials used in production Direct materials used in production $ 0