Exercise 2-5 (Part Level Submission) Page 1 of 1 Exercise 2-5 (Part Level Submission) Ikerd Company applies costs are expected to total $350,959 for the year, and machine usage is estima manufacturing overhead to jobs on the basis of machine hours used. Overhead For the year, $475,386 of overhead costs are incurred and 131,800 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 SHOW LIST OF ACCOUNTS By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor. Attempts: 0 of 3 used