iPad ? 11:08 PM Assignment #2 Exercise 181 A edugen.wileyplus.com 9%4 Exercise 181 Exercise 182 Gallagher Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are Exercise 184 expected to total $425,000 for the year, and machine usage is estimated at 125,000 hours. Problem 4-2A a, b1-b2 For the year, $450,000 of overhead costs are incurred and 130,000 hours are used. (Video) Problem 4-3A a-b, c1-c3 (Video) x Your answer is incorrect. Try again. Review Score Review Results by Study Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, e.g. 52.75.) Objective Overhead rate XF 3.46 per machine hour Your answer is partially correct. Try again. What is the amount of under - or overapplied overhead at December 31? Overhead 200 underapplied Your answer is partially correct. Try again. Assuming the under - or overapplied overhead for the year is not allocated to inventory accounts, prepare the adjusting entry to assign the amount to cost of goods sold. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Credit 24 42 Account Titles and Explanation X 200 Finished Goods Inventory 200 Work in Process Inventory