Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $302,096 for the year, and machine usage is estimated at 126,400 hours.

For the year, $403,480 of overhead costs are incurred and 132,000 hours are used.

LIST OF ACCOUNTS:

Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, e.g. 1.52.) Manufacturing overhead rate per machine hour s SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT VIDEO: AP What is the amount of under- or overapplied overhead at December 31? Manufacturing Overhead