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

Manufacturing overhead costs incurred:
Indirect materials	$	16,300
Indirect labor		143,000
Property taxes, factory		9,300
Utilities, factory		83,000
Depreciation, factory		149,100
Insurance, factory		11,300
Total actual manufacturing overhead costs incurred	$	412,000
Other costs incurred:
Purchases of raw materials (both direct and indirect)	$	413,000
Direct labor cost	$	73,000
Inventories:
Raw materials, beginning	$	21,300
Raw materials, ending	$	31,300
Work in process, beginning	$	41,300
Work in process, ending	$	71,300

The company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. A total of 21,000 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.