Exercise 4-18 Sheridan Company manufactures a line of lightweight running shoes. CEO Mark Sheridan estimated that the company would incur $3,264,510 in manufacturing overhead during the coming year. When Sheridan Company uses direct labor hours as its manufacturing overhead application base, predetermined overhead rate is $15.62/DLH and when it uses machine hours as its manufacturing overhead application base, predetermined overhead rate is $6.29/MH. Additionally, he estimated the company would operate at a level requiring 208,996 direct labor hours and 519,000 machine hours. At the end of the year, Sheridan Company had worked 202,000 direct labor hours, used 352,000 machine hours, and incurred $2,520,000 in manufacturing overhead. If Sheridan Company used direct labor hours as its manufacturing overhead application base, how much overhead was applied to jobs during the year? Overhead applied $ LINK TO TEXT LINK TO VIDEO Using direct labor hours as the application base, was manufacturing overhead under- or overapplied for the year? By how much? Manufacturing overhead by $ LINK TO TEXT LINK TO VIDEO If Sheridan Company used machine hours as its manufacturing overhead application base, how much overhead was applied to jobs during the year? Overhead applied $ LINK TO TEXT LINK TO VIDEO Using machine hours as the application base, was manufacturing overhead under- or overapplied for the year? By how much? Manufacturing overhead by $ Click if you would like to show Work for this question: Open Show Work