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

Manufacturing overhead costs:
Property taxes, factory	$	4,600
Utilities, factory		7,400
Indirect labour		13,200
Depreciation, factory		28,000
Insurance, factory		9,200
Total actual manufacturing overhead costs	$	62,400
Other costs incurred:
Purchases of raw materials.	$	40,000
Direct labour cost	$	51,200
Inventories:
Raw materials, beginning	$	11,200
Raw materials, ending	$	8,600
Work in process, beginning	$	8,400
Work in process, ending	$	10,700

The company uses a predetermined overhead rate to apply overhead cost to production. The rate for the year was $6 per machine-hour; a total of 11,000 machine-hours were recorded for the year. All raw materials ultimately become direct materialsnone are classified as indirect materials.

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.