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*Exercise 2-5 (Video) (Part Level Submission) Therd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are For the year, 368,350 of overhead costs are incurred and 132.500 hours are used made 338.00 for the you and manage d 125.20 hours Your answer is correct Compute the manufacturing overhead rate for the year. (Round answer Manufacturing overhead rate per machine hour "(b) Your answer is correct. What is the amount of unders or overapplied overhead at December 31 Manufacturing Overhead 10609 Underapplied Attempt 2 of 2 used "(c) Prepare the adjusting entry to win the under or verplied overhead for the year to cost of goods sold. (Credve accounts o indet many Account Titles and Explanation Debit Credit