Question 1 Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used. $341,523 for the year, and machine usage is estimated at 125,100 hours For the year, $427 173 of overhead costs are incurred and 130,100 hours are used Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places eg. 1.25 Manufacturing overhead rate s per machine hour SHOW LIST OF ACCOUNTS What is the amount of under- or overapplied overhead at December 31? Manufacturing Overhead SHOW LIST OF ACCOUNTS 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.) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS Question Attempts: 0 of 1 used