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

Manufacturing overhead costs incurred:
Indirect materials	$ 16,400
Indirect labor	144,000
Property taxes, factory	9,400
Utilities, factory	84,000
Depreciation, factory	210,900
Insurance, factory	11,400
Total actual manufacturing overhead costs incurred	$ 476,100
Other costs incurred:
Purchases of raw materials (both direct and indirect)	$ 414,000
Direct labor cost	$ 74,000
Inventories:
Raw materials, beginning	$ 21,400
Raw materials, ending	$ 31,400
Work in process, beginning	$ 41,400
Work in process, ending	$ 71,400

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.