Multiple Choice Question 55 Waterway Company assigns overhead based on machine hours. The Milling Department logs 2410 machine hours and Cutting Department shows 3930 machine hours for the period. If the overhead rate is $7 per machine hour, the entry to assign overhead will show a credit to Manufacturing Overhead for $44380. credit to Work in Process-Cutting Department for $27510. debit to Work in Process for $27510. debit to Manufacturing Overhead for $44380