PLEASE SHOW ALL WORK. PLEASE TYPE. MULTI PART QUESTION

The following cost data relate to the manufacturing activities of Black Company during the just-completed year: $ 3,000 5,000 Manufacturing overhead costs: Property taxes, factory Utilities, factory Indirect labour Depreciation, factory Insurance, factory 10,000 24,000 6,000 Total actual manufacturing overhead costs $ 48,000 $ 32,000 $ 40,000 Other costs incurred: Purchases of raw materials. Direct labour cost Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending $ $ $ $ 8,000 7,000 6,000 7,500 The company uses a predetermined overhead rate to apply overhead cost to production. The rate for the year was $5 per machine- hour; a total of 10,000 machine-hours were 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. 2. Prepare a schedule of cost of goods manufactured for the year. BLACK COMPANY Schedule of Cost of Goods Manufactured Direct materials: Raw materials used in production Direct labour Total manufacturing cost Cost of goods manufactured