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 4,900 Indirect labor 9,900 Depreciation, factory 24,000 Insurance, factory 5,900 Total actual manufacturing overhead costs $47,700 Other costs incurred: Purchases of raw materials $32,100 Direct labor cost $39,200 Inventories: Raw materials, beginning $ 8,400 Raw materials, ending $ 6,500 Work in process, beginning $ 5,500 Work in process, ending $ 7,000 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 10,900 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. Overapplied overhead Overapplied 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 inventory, beginning Add: Purchase of raw materials Raw materials available for use Deduct: Raw materials inventory, ending Raw materials used in production Direct labor Manufacturing overhead cost applied to work in process Total manufacturing cost Add: Work in process, beginning Deduct: Work in process, ending Cost of goods manufactured