Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $348,425 for the year, and machine usage is estimated at 126,700 hours, For the year, $371,650 of overhead costs are incurred and 131,800 hours are used. (a) Your Answer Correct Answer Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, e.g. 1.25.) Manufacturing overhead rate $ per machine hour eTextbook and Media Solution List of Accounts Attempts: 0 of 3 used