MANAGERIAL ACCOUNTING (ACCT 105) Gradebook ORION Downloadable eextbook NEXT Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours u machine usage is estimated at 125,000 hours. sed. Overhead costs are expected to total $275,000 for the year, and For the year, $296,000 of overhead costs are incurred and 130,000 hours are used Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, e.o. 1.25) Manufacturing overhead rate per machine hour LINK TO TEXT What is the amount of under- or overapplied overhead at December 31? Manufacturing Overhead VIDEO: APPLIED SKILLS Prepare the adjusting entry to assign the under- or overapplied overhead for the year to cost of goods sold. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) S0Ok