Exercise 15-OS a-c (Video) Sheridan Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $344,025 for the year, and machine usage is estimated at 125,100 hours. For the year, $366,875 of overhead costs are incurred and 130,100 hours are used. Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, e.g. 1.25.) Manufacturing overhead rate per machine hour LINK TO TEXT LINK TO TEXT VIDEO SEKILAR EXERCISE What is the amount of under or overapplied overhead at December 317 Manufacturing Overhead LINK TO TEXT LINK TO TEXT VIDEO SIRILAR EXERCISE Prepare the adjusting entry to assign the under-or overapplied overhead for the year to cost of goods sold. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit LINK TO TEXT LINK TO TEXT VIDEO SIMILAR EXERCISE