Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $309,680 for the year, and machine usage is estimated at 126,400 hours. For the year, $330,930 of overhead costs are incurred and 131,400 hours are used. (a) Your Answer Correct Answer 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 $ 245 per machine hour e Textbook and Media Solution Attempts: 2 of 2 use (b) What is the amount of under-or overapplied overhead at December 31? Manufacturing Overhead $ Save for Later Attempts: 0 of 2 used Submit Answer (c) The parts of this question must be completed in order. This part will be available when you complete the part above