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The following cost data relate to the manufacturing activities of Black Company during the just completed year: Manufacturing overhead costs incurred: Property taxes, factory $

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

Manufacturing overhead costs incurred:
Property taxes, factory $ 3,000
Utilities, factory 4,800
Indirect labor 9,900
Depreciation, factory 23,900
Insurance, factory 5,900
Total actual manufacturing overhead costs $ 47,500
Other costs incurred:
Purchases of raw materials $ 31,500
Direct labor cost $ 39,900
Inventories:
Raw materials, beginning $ 8,300
Raw materials, ending $ 6,400
Work in process, beginning $ 5,200
Work in process, ending $ 7,400

The company uses a predetermined overhead rate to apply overhead cost to jobs. The rate for the year was $5 per machine-hour; a total of 12,400 machine-hours was 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 using the indirect method. (Enter all deductions as a negative.)

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