Cullumber Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $362,500 for the year, and machine usage is estimated at 125,000 hours. For the year, $378,000 of overhead costs are incurred and 130,000 hours are used. (a) Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal place, e.g. 52.75) Overhead rate $ per machine hour Save for Later Attempts: 0 of 1 used Submit Answer (b) What is the amount of under- or overapplied overhead at December 31? Overhead $ Save for Later Attempts: 0 of 1 used Submit Answer (c) Assuming the under or overapplied overhead for the year is not allocated to inventory accounts, prepare the adjusting entry to assign the amount to cost of goods sold. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries) Account Titles and Explanation Debit Credit Save for Later Attempts: 0 of 1 used Submit