Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used Overhead costs are estimated to total $301,920 for the year, and machine usage is estimated at 125,800 hours For the year, $327,140 of overhead costs are incurred and 132,100 hours are used. Compute the manufacturing overhead rate for the year(Round answer to 2 decimal places, eg 125) Manufacturing overhead rate $ per machine hour e Textbook and Media List of Accounts What is the amount of under-ar overapplied overhead at December 312 Manufacturing Overhead $ + e Textbook and Media List of Accounts Prepare the adjusting entry to assien 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 e Textbook and Media List of Accounts