The following cost data relate to the manufacturing activities of Black Company during the just completed year: $ 2,900 5,000 9,900 24,000 5,900 $47,700 Manufacturing overhead costs incurred: Property taxes, factory Utilities, factory Indirect labor Depreciation, factory Insurance, factory Total actual manufacturing overhead costs Other costs incurred: Purchases of raw materials Direct labor cost Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning $31,600 $40,600 $ 8,600 $ 6,500 $ 5,200 $ 7,700 Work in process, ending 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 10,300 machine-hours was recorded for the year. All raw materials ultimately become direct materials-none are classified as indirect materials. Required: 1. Compute the amount of underapplied or overapplied overhead cost for the year. overhead cost 2. Prepare a schedule of cost of goods manufactured for the year using the indirect method. (Enter all deductions as a negative.) Black Company Schedule of Cost of Goods Manufactured Direct materials: Raw materials available for use Raw materials used in production Total manufacturing cost Cost of goods manufactured