Ikerd Company appiles manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $317.250 for the year, and machine usage is estimated at 126,900 hours. For the year. $334,900 of overhead costs are incurred and 130,000 hours are used. Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, eg 1.25) Manufacturing overhead rate eTextbook and Media List of Accounts per machine hour What is the amount of under-or overapplied overhead at December 31? Manufacturing Overhead $