5. Financial and Managerial Accounting (ACCTG 10 an Weygandt, Financial and Managerial, 3e tice Assignment Gradebook ORION Downloadable eTextbook ment CALCULATOR FULL SCREEN PRINTER VERSION BACK NE! 12:20 PM / Remaining: 57 min. Question 5 Vaughn Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $295,395 for the year, and machine usage is estimated at 125,700 hours. For the year, $316,040 of overhead costs are incurred and 130,400 hours are used. Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, e.g. 1.25.) Manufacturing overhead rate per machine hour SHOW LIST OF ACCOUNTS What is the amount of under- or overapplied overhead at December 31? Manufacturing Overhead SHOW LIST OF ACCOUNTS Prepare the adjusting entry to assign the under- or overapplied overhead for the year to cost of goods sold. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Account Titles and Explanation