Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used Overhead costs are estimated to total 290 030 for the year and machine usage is estimated at 126 100 hours For the year 308 530 of overhead costs are incurred and 130 100 hours are used a Your answer is correct Compute the manufacturing overhead rate for the year Round answer to 2 decimal places e g 1 25 Manufacturing overhead rate S eTextbook and Media List of Accounts 23 per machine hour Attempts 1 of 5 used