The following cost data relate to the manufacturing activities of chang company during the just completed year: manufacturing overhead costs incurred: indirect materials $ 16,100 indirect labor 141,000 property taxes, factory 9,100 utilities, factory 81,000 depreciation, factory 149,700 insurance, factory 11,100 total actual manufacturing overhead costs incurred $ 408,000 other costs incurred: purchases of raw materials (both direct and indirect) $ 411,000 direct labor cost $ 71,000 inventories: raw materials, beginning $ 21,100 raw materials, ending $ 31,100 work in process, beginning $ 41,100 work in process, ending $ 71,100 the company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. a total of 20,800 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.
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