Crane Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $350,000 for the year, and machine usage is estimated at 125,000 hours. For the year, $369,000 of overhead costs are incurred and 130,000 hours are used. (a) Your answer is correct. Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, e.g. 52.75.) Overhead rate $ per machine hour Your answer is incorrect. What is the amount of under - or overapplied overhead at December 31? Overhead \$ eTextbook and Media List of Accounts Attempts: 1 of 3 used