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 $ 16,600 146,000 9,600 86,000 252,700 11,600 $522,500 Total actual manufacturing overhead costs incurred Other costs incurred: Purchases of raw materials (both direct and indirect) Direct labor cost Inventories: $416,000 $ 76,000 Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending 21,600 s 31,600 $41,600 $ 71,600 The company uses a predetermined overhead rate of $25 per machine-hour to apply overhead cost to jobs. A total of 21,300 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 2 Required 1 Compute the amount of underapplied or overapplied overhead cost for the year. overhead cost Required 1 Required 2 Prepare a schedule of cost of goods manufactured for the year Chang Company Schedule of Cost of Goods Manufactured Direct materials: Total raw materials available Raw materials used in production Total manufacturing costs Cost of goods manufactured