value: 2.00 points The following cost data relate to the manufacturing activities of Chang Company during the just completed year Manufacturing overhead costs incurred: Indirect materials Indirect labor Property taxes, factory Utlities, factory Depreciation, factory Insurance, factory $ 16,500 145,000 9,500 85,000 231,700 11,500 Total actual manufacturing overhead costs incurred 499,200 Other costs incurred: Purchases of raw materials (both direct and indirect) Direct labor cost 5415.0 $ 415,000 75,000 Inventories Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending 21,500 $ 31,500 $ 41,500 $ 71,500 The company uses a predetermined overhead rate to apply overhead cost to jobs. The rate for the year was $24 per machine-hour. A total of 21,200 machine-hours was recorded for the year. Required: 1. Compute the amount of underapplied or overapplied overhead cost for the year. d cost