The following cost data relate to the manufacturing activitiesof Chang Company during the just completed year: Manufacturingoverhead costs incurred: Indirect materials $ 15,300 Indirect labor133,000 Property taxes, factory 8,300 Utilities, factory 73,000Depreciation, factory 152,100 Insurance, factory 10,300 Totalactual manufacturing overhead costs incurred $ 392,000 Other costsincurred: Purchases of raw materials (both direct and indirect) $403,000 Direct labor cost $ 63,000 Inventories: Raw materials,beginning $ 20,300 Raw materials, ending $ 30,300 Work in process,beginning $ 40,300 Work in process, ending $ 70,300 The companyuses a predetermined overhead rate of $20 per machine-hour to applyoverhead cost to jobs. A total of 20,000 machine-hours were usedduring the year.
Required:
1. Compute the amount of underapplied or overapplied overheadcost for the year. (If it is overapplied, enter the amount as anegative value using ())
2. Prepare a schedule of cost of goods manufactured for theyear.
