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Pharoah Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $322,000 for the year, and

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Pharoah Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $322,000 for the year, and machine usage is estimated at 140,000 hours. For the year, $360,640 of overhead costs are incurred, and 145,600 hours are used. (a) Compute the manufacturing overhead rate for the vear, (Round answer to 2 decimal places, e.8. 1.25.) Manufacturing overhead rate per machine hour

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