E2-7 (Static) Calculating Overhead Rates, Actual and Applied Manufacturing Overheau, and Analyzing Over- or Underapplied Manufacturing Overhead [LO 2-3, 2-5] Cambridge Manufacturing Company applies manufacturing overhead on the basis of machine hours. At the beginning of the year, the company estimated its total overhead cost to be $325,000 and machine hours to be 25,000 . Actual manufacturing overhead and machine hours were $372,000 and 26,000 , respectively. Required: 1. Compute the predetermined overhead rate. 2. Compute applied manufacturing overhead. 3. Compute over-or underapplied manufacturing overhead. Complete this question by entering your answers in the tabs below. Compute the predetermined overhead rate. E2-7 (Static) Calculating Overhead Rates, Actual and Applied Manufacturing Overhead, and Analyzing Over- or Underapplied Manufacturing Overhead [LO 2-3, 2-5] Cambridge Manufacturing Company applies manufacturing overhead on the basis of machine hours. At the beginning of the year, the company estimated its total overhead cost to be $325,000 and machine hours to be 25,000 . Actual manufacturing overhead and machine hours were $372,000 and 26,000 , respectively. Required: 1. Compute the predetermined overhead rate. 2. Compute applied manufacturing overhead. 3. Compute over-or underapplied manufacturing overhead. Complete this question by entering your answers in the tabs below. Compute applied manufacturing overhead. E2-7 (Static) Calculating Overhead Rates, Actual and Applied Manufacturing Overhead, and Analyzing Over- or Underapplied Manufacturing Overhead [LO 2-3, 2-5] Cambridge Manufacturing Company applies manufacturing overhead on the basis of machine hours. At the beginning of the year, the company estimated its total overhead cost to be $325,000 and machine hours to be 25,000 . Actual manufacturing overhead and machine hours were $372,000 and 26,000 , respectively. Required: 1. Compute the predetermined overhead rate. 2. Compute applied manufacturing overhead. 3. Compute over-or underapplied manufacturing overhead. Complete this question by entering your answers in the tabs below. Compute over- or underapplied manufacturing overhead